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Issuing Stock Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 125,000 shares

  1. Issuing Stock

    Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 125,000 shares of 2% preferred stock, $45 par and 400,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations:

    Journalize the transactions.

    July 1. Issued 155,000 shares of common stock at par for cash. If an amount box does not require an entry, leave it blank.

    July 1 fill in the blank 9cecc6fb206d074_2 fill in the blank 9cecc6fb206d074_3
    fill in the blank 9cecc6fb206d074_5 fill in the blank 9cecc6fb206d074_6

    July 1 Issued 550 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. If an amount box does not require an entry, leave it blank.

    July 1 fill in the blank 4c7f48fcdfeafb5_2 fill in the blank 4c7f48fcdfeafb5_3
    fill in the blank 4c7f48fcdfeafb5_5 fill in the blank 4c7f48fcdfeafb5_6

    Aug. 7. Issued 25,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $68,000, $373,000, and $84,000, respectively. If an amount box does not require an entry, leave it blank.

    Aug. 7 fill in the blank 224aae05ffe7fd2_2 fill in the blank 224aae05ffe7fd2_3
    fill in the blank 224aae05ffe7fd2_5 fill in the blank 224aae05ffe7fd2_6
    fill in the blank 224aae05ffe7fd2_8 fill in the blank 224aae05ffe7fd2_9
    fill in the blank 224aae05ffe7fd2_11 fill in the blank 224aae05ffe7fd2_12
    fill in the blank 224aae05ffe7fd2_14 fill in the blank 224aae05ffe7fd2_15

    Sept. 20. Issued 20,000 shares of preferred stock at $55 for cash. If an amount box does not require an entry, leave it blank.

    Sept. 20 fill in the blank 68aaf6fb1fa9fe8_2 fill in the blank 68aaf6fb1fa9fe8_3
    fill in the blank 68aaf6fb1fa9fe8_5 fill in the blank 68aaf6fb1fa9fe8_6
    fill in the blank 68aaf6fb1fa9fe8_8 fill in the blank 68aaf6fb1fa9fe8_9

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