Question
Problem P13 - 3 Journalize the following transactions made by the Daly Company. The par value of each common share is $8.00. (Omit explanations). Jan.
Problem P13 - 3
Journalize the following transactions made by the Daly Company. The par value of each common share is $8.00. (Omit explanations).
Jan. 10 Issued 15,000 shares of common stock for cash at $15.00 per share.
Jan. 12 Issued another 25,000 shares of common stock at $25.00 per share.
Feb. 5 Issued 12,000 shares of common stock for land that had an asking price of $400,000 and a fair value of $360,000.
May 1 Issued 2,000 shares of common stock for attorney services related to incorporation. The
attorneys billed the company $40,000.
May 15 Acquired 4,000 shares of its common stock at $30.00 per share.
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