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Post to the stockholders' equity accounts. Post entries in the order of journal entries presented in the previous part) Preferred Stock Paid-in Capital in Excess
Post to the stockholders' equity accounts. Post entries in the order of journal entries presented in the previous part) Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock MacBook Air Sunland Company was organized on January 1, 2019. It is authorized to issue 14,000 shares of 831 5100 par value preferred stock, and 550,000 shares of no par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year: Issued 80.500 shares of common stock for cash at $6 per share issued 4,400 shares of preferred stock for cash at $105 per share. Issued 24.500 shares of common stock for land. The asking price of the land was $86,000. The fair value of the land was $87.500 Issued 85,000 shares of common stock for cash at $4.25 per share. Issued 10,000 shares of common stock to attorneys in payment of their bill of $45,000 for services performed in helping the company organize. Sept Issued 10.000 shares of common stock for cash at $ per share Issued 1.500 shares of preferred stock for cash at $115 per share. Jan. Mar Apr 10 1 1 1 May Aug 1 1 1 Now
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