The folowing franszctions afleciang stockholders" eculy wese completed tharing the fret year of oporations: Wan. 2. issuct 94000 shares of sfock at par ta Paul cakchn for cash. 5 issued 3,200 shares af stock at par to Michele kity for promosonat tervices provided in conohechion with the orgateation of the corporation and thsund a6.400 shanes of sock at par to Michekr marby for casti (tecord as tho separale transactions.) 11. Purchased tand and s buldmg from Gechen foorthary in exchange for sack raued at par. The mongage note at the tare of the purchase. if is agretd that one lanid is to be priced at 145,700 and the beising at 1220.009 and that Gitechen Nortway's equity wat be exchanged for wack at par. The corgoration agreed 10 assume responsouty for pwying the mortg spo note and the acchacd nseiest. Rescuiresi: CHART OF ACCOUNTS Alpha Sounds Corp. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 191 Building 192 Accumulated Depreciation-Building REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Aphat Sounds Corp, an ekectic guitar retaber, was organized by Michese Kiby, Paul Glenn, and Gretchen Northway. The charter authorived 1,000,000 shares of The tollowing transactions affecting stackhokders equity were completed during the fist year of operabons: Jan. 2 Issued 94,000 shares of stock at par to Paul Glenn for cash 5. Issaed 3,200 shares of stock at par to Michele Kirby for promotional services provided in connection weth the organieation of the corporation and issued 46,400 shases of stock at par to Michele Kirby for cash. (recond ars two separate transactions.) 8. Purchased land and bulding from Gretchen Northway in exchange for stock bsued at par the buitding is mortgaged for 5187.300 for 20 years at 6%5, and there os accrued interest of 55,000 on the morgage note at the lime of the purchase In is agreed that the land is to be priced at 553 , 700 and the buaging at 5228,800 and that Gretchen Northways equigy will be exchanged for stock at par the corporation agreed to assume responsibicy for paying the mortgage note and the accrued interest Required: The folowing franszctions afleciang stockholders" eculy wese completed tharing the fret year of oporations: Wan. 2. issuct 94000 shares of sfock at par ta Paul cakchn for cash. 5 issued 3,200 shares af stock at par to Michele kity for promosonat tervices provided in conohechion with the orgateation of the corporation and thsund a6.400 shanes of sock at par to Michekr marby for casti (tecord as tho separale transactions.) 11. Purchased tand and s buldmg from Gechen foorthary in exchange for sack raued at par. The mongage note at the tare of the purchase. if is agretd that one lanid is to be priced at 145,700 and the beising at 1220.009 and that Gitechen Nortway's equity wat be exchanged for wack at par. The corgoration agreed 10 assume responsouty for pwying the mortg spo note and the acchacd nseiest. Rescuiresi: CHART OF ACCOUNTS Alpha Sounds Corp. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 191 Building 192 Accumulated Depreciation-Building REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-in Capital from Sale of Treasury Stock 340 Retained Earnings 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Aphat Sounds Corp, an ekectic guitar retaber, was organized by Michese Kiby, Paul Glenn, and Gretchen Northway. The charter authorived 1,000,000 shares of The tollowing transactions affecting stackhokders equity were completed during the fist year of operabons: Jan. 2 Issued 94,000 shares of stock at par to Paul Glenn for cash 5. Issaed 3,200 shares of stock at par to Michele Kirby for promotional services provided in connection weth the organieation of the corporation and issued 46,400 shases of stock at par to Michele Kirby for cash. (recond ars two separate transactions.) 8. Purchased land and bulding from Gretchen Northway in exchange for stock bsued at par the buitding is mortgaged for 5187.300 for 20 years at 6%5, and there os accrued interest of 55,000 on the morgage note at the lime of the purchase In is agreed that the land is to be priced at 553 , 700 and the buaging at 5228,800 and that Gretchen Northways equigy will be exchanged for stock at par the corporation agreed to assume responsibicy for paying the mortgage note and the accrued interest Required