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PART B please the charts Martinez Corporation was organized on January 1, 2022. It is authorized to issue 12,000 shares of 8%,$100 par value preferred
PART B please the charts
Martinez Corporation was organized on January 1, 2022. It is authorized to issue 12,000 shares of 8%,$100 par value preferred stock, and 513,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 77,000 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,300 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 25,000 sharys of common stock for land. The asking price of the land was $93,000. The fair value of the iand was $84,500. May 1 Issued 76,000 shares of common stock for cash at $4.50 per share. Aug. 1 Issued 12,000 shares of common stock to attorneys in payment of their bill of $36,000 for services performed in helping the company organize. Sept. 1 Issued 10,500 shares of common stock for cash at $7 per share. Nov. 1 Issued 1.000 shares of preferred stock for cash at $112 per share. Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Aug.1 : Organization Expense Common Stock Paid-in Capital in Excess of Stated Valug Camman sticks Sept. 1= Commonstock Nov. 1: Paid-in Cipitat in Exess of Stated Vatue connow sices Prufoured stocich Post to the stockholders' equity accounts. (Post entries in the order of journol entries presented in the previous part.) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Step by Step Solution
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