Journalize the transactions.

If an amount box does not require an entry, leave it blank.

Feb. $5.$ Issued $100,000$ shares of common stock at par for cash.

Feb. $5.$

$$

Common Stock $$

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T Check My Work

What is the company receiving and at what price is the stock being issued?

Feb. $5.$ Issued $400$ shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

Feb. $5.$ Organizational Expenses

Recall that stock may be issued for reasons other than to receive cash. What are these shares paying for?

Apr. $9.$

Recall that shares of stock can be issued to acquire assets. At what value must the preferred stock and common stock accounts be recorded?

June $14.$ Issued $38,000$ shares of preferred stock at $$56$ for cash.

June $14.$