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Current Attempt in Progress

Bridgeport Corporation was organized on January $1,2027.$ It is authorized to issue $15,000$ shares of $8\%,$$$100$ par value preferred stock, and $504,000$ shares of no$-$par common stock with a stated value of $$2$ per share. The following stock transactions were completed during the first year.

Jan. $10$ Issued $85,000$ shares of common stock for cash at $$4$ per share.

Mar. $1$ Issued $5,150$ shares of preferred stock for cash at $$110$ per share.

Apr. $1$ Issued $22,000$ shares of common stock for land. The asking price of the land was $$90,000.$ The fair value of the land was $$84,000.$

May $1$ Issued $78,000$ shares of common stock for cash at $$5\mathrm{.}25$ per share.

Aug. $1$ Issued $11,000$ shares of common stock to attorneys in payment$-$of their bill of $$43,000$ for services performed in helping the company organize.

Sept. $1$ Issued $12,000$ shares of common stock for cash at $$7$ per share.

Nov. $1$ Issued $1,000$ shares of preferred stock for cash at $$113$ per share.