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Stock Subscriptions and Treasury Stock Nash & Roth formed a corporation and had the following organization costs and stock transactions during the year: June 30
Stock Subscriptions and Treasury Stock
Nash & Roth formed a corporation and had the following organization costs and stock transactions during the year:
June 30 | Incurred the following costs of incorporation: | ||
Incorporation fees | $700 | ||
Attorneys' fees | 9,450 | ||
Promotion fees | 7,960 | ||
July 15 | Issued 7,190 shares of $10 par common stock for $75,130 cash. | ||
Aug. 1 | Received subscriptions for 8,480 shares of $10 par common stock for $85,853. | ||
15 | Issued 16,920 shares of $10 par common stock in exchange for a building and fixtures with a fair market value of $174,780. | ||
31 | Received a payment of $50,770 for the common stock subscription. | ||
Sept. 3 | Purchased 2,160 shares of its own $10 par common stock for $11 a share. | ||
18 | Received the balance in full for the common stock subscription and issued the stock. | ||
30 | Sold 800 shares of its treasury stock for $11.60 a share. | ||
Oct. 15 | Issued 3,000 shares of $40 par, 5% preferred stock in exchange for land with a fair market value of $124,600. | ||
31 | Sold 440 shares of its treasury stock for $10.60 a share. |
Required:
Prepare journal entries for these transactions.
DATE | ACCOUNT TITLE | DOC. NO. | POST. REF. | DEBIT | CREDIT | ||
---|---|---|---|---|---|---|---|
1 | 20-- June 30 | fill in the blank 2 | fill in the blank 3 | 1 | |||
2 | fill in the blank 5 | fill in the blank 6 | 2 | ||||
3 | 3 | ||||||
4 | July 15 | fill in the blank 8 | fill in the blank 9 | 4 | |||
5 | fill in the blank 11 | fill in the blank 12 | 5 | ||||
6 | fill in the blank 14 | fill in the blank 15 | 6 | ||||
7 | 7 | ||||||
8 | Aug. 1 | fill in the blank 17 | fill in the blank 18 | 8 | |||
9 | fill in the blank 20 | fill in the blank 21 | 9 | ||||
10 | fill in the blank 23 | fill in the blank 24 | 10 | ||||
11 | 11 | ||||||
12 | 15 | fill in the blank 26 | fill in the blank 27 | 12 | |||
13 | fill in the blank 29 | fill in the blank 30 | 13 | ||||
14 | fill in the blank 32 | fill in the blank 33 | 14 | ||||
15 | 15 | ||||||
16 | 31 | fill in the blank 35 | fill in the blank 36 | 16 | |||
17 | fill in the blank 38 | fill in the blank 39 | 17 | ||||
18 | 18 | ||||||
19 | Sept. 3 | fill in the blank 41 | fill in the blank 42 | 19 | |||
20 | fill in the blank 44 | fill in the blank 45 | 20 | ||||
21 | 21 | ||||||
22 | Sept. 18 | fill in the blank 47 | fill in the blank 48 | 22 | |||
23 | fill in the blank 50 | fill in the blank 51 | 23 | ||||
24 | 24 | ||||||
25 | fill in the blank 53 | fill in the blank 54 | 25 | ||||
26 | fill in the blank 56 | fill in the blank 57 | 26 | ||||
27 | 27 | ||||||
28 | 30 | fill in the blank 59 | fill in the blank 60 | 28 | |||
29 | fill in the blank 62 | fill in the blank 63 | 29 | ||||
30 | fill in the blank 65 | fill in the blank 66 | 30 | ||||
31 | 31 | ||||||
32 | Oct. 15 | fill in the blank 68 | fill in the blank 69 | 32 | |||
33 | fill in the blank 71 | fill in the blank 72 | 33 | ||||
34 | fill in the blank 74 | fill in the blank 75 | 34 | ||||
35 | 35 | ||||||
36 | 31 | fill in the blank 77 | fill in the blank 78 | 36 | |||
37 | fill in the blank 80 | fill in the blank 81 | 37 | ||||
38 | fill in the blank 83 | fill in the blank 84 | 38 |
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