Question
Danielle Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares $100 par value, 8% preferred stock. Prepare entries
Danielle Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares $100 par value, 8% preferred stock. Prepare entries in form without explanation to record the following transactions.
April 15 Issued a 1,000 shares of common stock to an attorney for a bill of $9,000 for services rendered
April 25 Issued 1,000 shares of preferred stock for cash of $115 per share
April 27 Issued 8,000 shares of common stock in exchange for land for a plant site valued at $50,000
May 1 Issued 15,000 shares of common stock for $90,000 in cash
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