6 QUESTION THREE Triangle Corporation is authorized to issue 1,000,000 shares of $5 par value common stock. During 2014, its first year of operation, the company has the following stock transactions Jan. 1 Jan. 15 Paid the state $2,000 for incorporation fees. Issued 500,000 shares of stock at $6 per share. torneys for the company accepted 500 shares of common stock as payment an. 30 At for legal services rendered in helping the company incorporate. The legal se rvices are estimated to have a value of $7,000. 100,000 shares of stock for land. The land had an asking price is currently selling on a national exchange at $8 of $900,000. The per share. Purchased 15,000 shares of common stock for the treasury at share. Sold 11,000 shares of the treasury stock at $11 per share. stock 5 $9 per ons the transactions for Triangle Corporation. (One mark for each corredt 6 QUESTION THREE Triangle Corporation is authorized to issue 1,000,000 shares of $5 par value common stock. During 2014, its first year of operation, the company has the following stock transactions Jan. 1 Jan. 15 Paid the state $2,000 for incorporation fees. Issued 500,000 shares of stock at $6 per share. torneys for the company accepted 500 shares of common stock as payment an. 30 At for legal services rendered in helping the company incorporate. The legal se rvices are estimated to have a value of $7,000. 100,000 shares of stock for land. The land had an asking price is currently selling on a national exchange at $8 of $900,000. The per share. Purchased 15,000 shares of common stock for the treasury at share. Sold 11,000 shares of the treasury stock at $11 per share. stock 5 $9 per ons the transactions for Triangle Corporation. (One mark for each corredt