Problem 13 01A a c Flounder Corporation was organized on January 1, 2020 It is authorized to issue 14,000 shares of 8 , $100 par value preferred stock, and 505,000 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 5,800 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 land was $88,000 The fair value of the land was $81,000 May 1 Issued 76,000 shares of common stock for cash at $4 25 per share Aug 1 Issued 10,500 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 12,000 shares of common stock for cash at $5 per share Nov 1 Issued 3,000 shares of preferred stock for cash at $112 per share Preferred Stock Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Common Stock Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Paid in Capital in Excess of Par Preferred Stock Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Paid in Capital in Excess of Stated Value Common Stock Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal Jan 10Mar 1Apr 1May 1Aug 1Sept 1Nov 1Bal

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Problem 13-01A a-c Flounder Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock,

Problem 13-01A a-c

Flounder Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 505,000 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 5,800 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 land was $88,000. The fair value of the land was $81,000.
May	1	Issued 76,000 shares of common stock for cash at $4.25 per share.
Aug.	1	Issued 10,500 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 12,000 shares of common stock for cash at $5 per share.
Nov.	1	Issued 3,000 shares of preferred stock for cash at $112 per share.

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Preferred Stock
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Common Stock
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Paid-in Capital in Excess of Par-Preferred Stock
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Paid-in Capital in Excess of Stated Value-Common Stock
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.
Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.		Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1Bal.