Issuing Stock Ergonomics Supply Inc , a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 75,000 shares of 3 preferred stock, $45 par and 350,000 shares of $20 par common stock The following selected transactions were completed during the first year of operations Journalize the transactions Question Content Area July 1 Issued 130,000 shares of common stock at par for cash If an amount box does not require an entry, leave it blank July 1 CashCommon StockPaid In Capital in Excess of Par Common StockPreferred StockRetained EarningsCash Cash Cash CashCommon StockPaid In Capital in Excess of Par Common StockPreferred StockRetained EarningsCommon Stock Common Stock Common Stock Question Content Area July 1 Issued 450 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 Common StockLandOrganizational ExpensesPaid In Capital in Excess of Par Common StockRetained EarningsOrganizational Expenses Organizational Expenses Organizational Expenses BuildingsCommon StockPaid In Capital in Excess of Par Common StockPreferred StockRetained EarningsCommon Stock Common Stock Common Stock Question Content Area Aug 7 Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $73,000, $398,000, and $89,000, respectively If an amount box does not require an entry, leave it blank Aug 7 Common StockLandPaid In Capital in Excess of Par Common StockPaid In Capital in Excess of Par Preferred StockRetained EarningsLand Land Land BuildingsCashCommon StockPaid In Capital in Excess of Par Common StockRetained EarningsBuildings Buildings Buildings CashCommon StockEquipmentPaid In Capital in Excess of Par Common StockPaid In Capital in Excess of Par Preferred StockEquipment Equipment Equipment CashCommon StockEquipmentPaid In Capital in Excess of Par Preferred StockRetained EarningsCommon Stock Common Stock Common Stock CashLandPaid In Capital in Excess of Par Common StockPaid In Capital in Excess of Par Preferred StockRetained EarningsPaid In Capital in Excess of Par Common Stock Paid In Capital in Excess of Par Common Stock Paid In Capital in Excess of Par Common Stock Question Content Area Sept 20 Issued 18,000 shares of preferred stock at $58 for cash If an amount box does not require an entry, leave it blank Sept 20 CashCommon StockPaid In Capital in Excess of Par Common StockPaid In Capital in Excess of Par Preferred StockPreferred StockCash Cash Cash CashCommon StockPaid In Capital in Excess of Par Common StockPreferred StockRetained EarningsPreferred Stock Preferred Stock Preferred Stock CashCommon StockPaid In Capital in Excess of Par Common StockPaid In Capital in Excess of Par Preferred StockRetained EarningsPaid In Capital in Excess of Par Preferred Stock Paid In Capital in Excess of Par Preferred Stock Paid In Capital in Excess of Par Preferred Stock

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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 75,000 shares

Issuing Stock

Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 75,000 shares of 3% preferred stock, $45 par and 350,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations:

Journalize the transactions.

Question Content Area

July 1. Issued 130,000 shares of common stock at par for cash. If an amount box does not require an entry, leave it blank.

July 1	CashCommon StockPaid-In Capital in Excess of Par-Common StockPreferred StockRetained EarningsCash	Cash	Cash
	CashCommon StockPaid-In Capital in Excess of Par-Common StockPreferred StockRetained EarningsCommon Stock	Common Stock	Common Stock

Question Content Area

July 1 Issued 450 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	Common StockLandOrganizational ExpensesPaid-In Capital in Excess of Par-Common StockRetained EarningsOrganizational Expenses	Organizational Expenses	Organizational Expenses
	BuildingsCommon StockPaid-In Capital in Excess of Par-Common StockPreferred StockRetained EarningsCommon Stock	Common Stock	Common Stock

Question Content Area

Aug. 7. Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $73,000, $398,000, and $89,000, respectively. If an amount box does not require an entry, leave it blank.

Aug. 7	Common StockLandPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsLand	Land	Land
	BuildingsCashCommon StockPaid-In Capital in Excess of Par-Common StockRetained EarningsBuildings	Buildings	Buildings
	CashCommon StockEquipmentPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockEquipment	Equipment	Equipment
	CashCommon StockEquipmentPaid-In Capital in Excess of Par-Preferred StockRetained EarningsCommon Stock	Common Stock	Common Stock
	CashLandPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsPaid-In Capital in Excess of Par-Common Stock	Paid-In Capital in Excess of Par-Common Stock	Paid-In Capital in Excess of Par-Common Stock

Question Content Area

Sept. 20. Issued 18,000 shares of preferred stock at $58 for cash. If an amount box does not require an entry, leave it blank.

Sept. 20	CashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockPreferred StockCash	Cash	Cash
	CashCommon StockPaid-In Capital in Excess of Par-Common StockPreferred StockRetained EarningsPreferred Stock	Preferred Stock	Preferred Stock
	CashCommon StockPaid-In Capital in Excess of Par-Common StockPaid-In Capital in Excess of Par-Preferred StockRetained EarningsPaid-In Capital in Excess of Par-Preferred Stock	Paid-In Capital in Excess of Par-Preferred Stock	Paid-In Capital in Excess of Par-Preferred Stock