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PART C please all info is posted Martinez Corporation was organized on January 1, 2022. It is authorized to issue 12,000 shares of 8%,$100 par
PART C please all info is posted
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 shares of common stock for land. The asking price of the iand was $93,000. The fair value of the land 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. Commonstock Paidin Capitat in Exress of Stated Value Common Stock Aug. : Organization Expense Paid fin Copital in Excess of Stated Value Common Stodk sept1: Peid incapial in Excess of Statcd Value -Comanon Stock Novi: Sept 1% Cash CommonStock Paid in Capital in Excess of Stated Value-Common 5 tock Now, 1& Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) Step by Step Solution
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