Question
Danielle Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares of $100 par value, 8 percent preferred stock.
- Danielle Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares of $100 par value, 8 percent preferred stock. Prepare entries in journal form without explanations to record the following transactions:
| Apr. | 15 |
| Issued 1,000 shares of common stock to an attorney for a bill of $9,000 for services rendered. |
|
| 25 |
| Issued 1,000 shares of preferred stock for cash of $115 per share. |
|
| 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. |
| General Journal | Page 1 | |||||
| Date | Description | Post. Ref. | Debit | Credit | ||
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
7th edition
1259722635, 978-1259722639
