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 4% preferred stock, $65 par and 350,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations:

Journalize the transactions.

July. 1. Issued 115,000 shares of common stock at par for cash.

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			fill in the blank 523dd301303f020_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		fill in the blank 3bce8006e06c05b_2
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Aug. 7. Issued 24,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $45,000, $244,000, and $54,000, respectively.

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

Aug. 7		fill in the blank 3e0355fe4008029_2	fill in the blank 3e0355fe4008029_3
		fill in the blank 3e0355fe4008029_5	fill in the blank 3e0355fe4008029_6
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Sept. 20. Issued 18,000 shares of preferred stock at $73 for cash.

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