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hwk 12..... solve please EX 11-8 Issuing stock Occupational Products Inc., a wholesaler of office products, was organized on March 1 of the current year,
hwk 12..... solve please
EX 11-8 Issuing stock Occupational Products Inc., a wholesaler of office products, was organized on March 1 of the current year, with an authorization of 25,000 shares of preferred 2% stock, $100 par and 500,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Mar. 1. Issued 220,000 shares of common stock at par for cash. OBJ.2 1. Issued 500 shares of common stock at par to an attorney in payment o legal fees for organizing the corporation. May 31. Issued 70,000 shares of common stock in exchange for land, buildings, and equip- ment with fair market prices of $150,000, $560,000 and $165,000 respectively. July 1. Issued 18,000 shares of preferred stock at $110 for cash. Journalize the transactionsStep by Step Solution
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