Current Attempt in Progress

Bonita Corporation was organized on January $1,2025.$ It is authorized to issue $10,400$ shares of $8\%,$$$100$ par value preferred stock, and $534,200$ shares of no$-$par common stock with a stated value of $$1$ per share. The following stock transactions were completed during the first year.

Jan. $10$ Issued $80,700$ shares of common stock for cash at $$7$ per share.

Mar. $1$ Issued $5,960$ shares of preferred stock for cash at $$112$ per share.

Apr. $1$ Issued $24,550$ shares of common stock for land. The asking price of the land was $$91,460$; the fair value of the land was $$80,700.$

May $1$ Issued $80,700$ shares of common stock for cash at $$9$ per share.

Aug. $1$ Issued $10,400$ shares of common stock to attorneys in payment of their bill of $$53,000$ for services rendered in helping the company organize.

Sept. $1$ Issued $10,400$ shares of common stock for cash at $$11$ per share.

Nov. $1$ Issued $990$ shares of preferred stock for cash at $$114$ per share.