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lendocino College| * Chapter 12 Homework * CengageNOwv2 | Onlin X genow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress%3Dtrue eBook Show Me How Calculator Print Item Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 4% stock, $60 par and 250,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. Feb. 5. Issued 125,000 shares of common stock at par for cash. Feb. 5. Feb. 5. Issued 600 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. fair market nrices of $77,000, $422,000, and CengageNOW2 |Onlin x ww.com/ilm/takeAssignment/takeAssignmentMain.do?inprogresstrue Apr. 9. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $77,000, $422,000, and $95,000, respectively. If an amount box does not require an entry, leave it blank" Apr. 9. June 14. Isued 13,000 shares of preferred stock at $68 for cash. If an amount box does not require an entry, leave it blank. June 14.

lendocino College| * Chapter 12 Homework * CengageNOwv2 | Onlin X genow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress%3Dtrue eBook Show Me How Calculator Print Item Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 4% stock, $60 par and 250,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. Feb. 5. Issued 125,000 shares of common stock at par for cash. Feb. 5. Feb. 5. Issued 600 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. fair market nrices of $77,000, $422,000, and CengageNOW2 |Onlin x ww.com/ilm/takeAssignment/takeAssignmentMain.do?inprogresstrue Apr. 9. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $77,000, $422,000, and $95,000, respectively. If an amount box does not require an entry, leave it blank" Apr. 9. June 14. Isued 13,000 shares of preferred stock at $68 for cash. If an amount box does not require an entry, leave it blank. June 14.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.24E
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lendocino College| * Chapter 12 Homework * CengageNOwv2 | Onlin X genow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress%3Dtrue eBook Show Me How Calculator Print Item Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 4% stock, $60 par and 250,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. Feb. 5. Issued 125,000 shares of common stock at par for cash. Feb. 5. Feb. 5. Issued 600 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. fair market nrices of $77,000, $422,000, and
Transcribed Image Text:lendocino College| * Chapter 12 Homework * CengageNOwv2 | Onlin X genow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress%3Dtrue eBook Show Me How Calculator Print Item Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 4% stock, $60 par and 250,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. Feb. 5. Issued 125,000 shares of common stock at par for cash. Feb. 5. Feb. 5. Issued 600 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. fair market nrices of $77,000, $422,000, and
CengageNOW2 |Onlin x ww.com/ilm/takeAssignment/takeAssignmentMain.do?inprogresstrue Apr. 9. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $77,000, $422,000, and $95,000, respectively. If an amount box does not require an entry, leave it blank" Apr. 9. June 14. Isued 13,000 shares of preferred stock at $68 for cash. If an amount box does not require an entry, leave it blank. June 14.
Transcribed Image Text:CengageNOW2 |Onlin x ww.com/ilm/takeAssignment/takeAssignmentMain.do?inprogresstrue Apr. 9. Issued 16,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $77,000, $422,000, and $95,000, respectively. If an amount box does not require an entry, leave it blank" Apr. 9. June 14. Isued 13,000 shares of preferred stock at $68 for cash. If an amount box does not require an entry, leave it blank. June 14.
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