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need it asappppo plzzzz DeLong Corporation was organized on January 1, 2022. It is authorized to issue 10,000 shares of 8%,5100 par value preferred stock
need it asappppo plzzzz
DeLong Corporation was organized on January 1, 2022. It is authorized to issue 10,000 shares of 8%,5100 par value preferred stock and 500.000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. San. 10 Issued 80.000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5.000 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24.000 shares of common stock for land. The asking price of the land was 390,000 . The fair value of the land was $85,000 May 1. Issued 80,000 shares of common stock for cash at $4.50 per share. Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $30,000 for services performed in helping the company organize. Sept. 1 Issued 10,000 shares of common stock for cash at $5 per share. Nov. 1 Issued 1.000 shares of preferred stock for cash at $109 per share Step by Step Solution
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