Issuing Stock

Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 75,000 shares of 1% preferred stock, $55 par and 400,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations:

Journalize the transactions.

July. 1. Issued 95,000 shares of common stock at par for cash.

July. 1	Cash	fill in the blank 1930db00102f047_2
	Common Stock		fill in the blank 1930db00102f047_4

July. 1 Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

July. 1	Organizational Expenses	fill in the blank 48a025f63fe103c_2
	Common Stock		fill in the blank 48a025f63fe103c_4

Aug. 7. Issued 19,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $91,000, $498,000, and $113,000, respectively.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Aug. 7	Land	fill in the blank a6ec75040003fa0_2	fill in the blank a6ec75040003fa0_3
	Buildings	fill in the blank a6ec75040003fa0_5	fill in the blank a6ec75040003fa0_6
	Equipment	fill in the blank a6ec75040003fa0_8	fill in the blank a6ec75040003fa0_9
	Common Stock	fill in the blank a6ec75040003fa0_11	fill in the blank a6ec75040003fa0_12
	Paid-In Capital in Excess of Par-Common Stock	fill in the blank a6ec75040003fa0_14	fill in the blank a6ec75040003fa0_15

Sept. 20. Issued 20,000 shares of preferred stock at $66 for cash.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Sept. 20	Cash	fill in the blank dfee450dafd604f_2	fill in the blank dfee450dafd604f_3
	Preferred Stock	fill in the blank dfee450dafd604f_5	fill in the blank dfee450dafd604f_6
	Paid-In Capital in Excess of Par-Preferred Stock	fill in the blank dfee450dafd604f_8	fill in the blank dfee450dafd604f_9