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Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current...
Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 75,000 shares of preferred1% stock, $50 par and 450,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations:
Journalize the transactions.
If an amount box does not require an entry, leave it blank.
Feb. 5. Issued 100,000 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. | |||
Apr. 9. Issued 15,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $42,000, $231,000, and $52,500, respectively.
| Apr. 9. | |||
June 14. Issued 23,000 shares of preferred stock at $64 for cash.
| June 14. | |||
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ekkarill92 answered 2 years agoRelated Solutions
Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of...
Issuing Stock
Professional Products Inc., a wholesaler of office products, was
organized on February 5 of the current year, with an authorization
of 75,000 shares of preferred 3% stock, $75 par and 450,000 shares
of $10 par common stock. The following selected transactions were
completed during the first year of operations:
Journalize the transactions.
If an amount box does not require an entry, leave it blank.
Feb. 5. Issued 140,000 shares of common stock
at par for cash.
Feb. 5....
PLEASE USE THE CHART PROVIDED Professional Products Inc., a wholesaler of office products, was organized on...
PLEASE USE THE CHART PROVIDED
Professional Products Inc., a wholesaler of office products, was
organized on February 5 of the current year, with an authorization
of 27,000 shares of preferred 2% stock, $100 par and 600,000 shares
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completed during the first year of operations:
Feb.
5
Issued 213,000 shares of common stock at par for cash.
5
Issued 400 shares of common stock at par to an attorney in
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Baird Products Inc., a wholesaler of office products, was
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Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the...
Work Place Products Inc., a wholesaler of office products, was
organized on July 1 of the current year, with an authorization of
25,000 shares of preferred 2% stock, $100 par and 550,000 shares of
$10 par common stock. The following selected transactions were
completed during the first year of operations:
July
1
Issued 243,000 shares of common stock at par for cash.
1
Issued 600 shares of common stock at par to an attorney in
payment of legal fees for...
Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the...
Work Place Products Inc., a wholesaler of office products, was
organized on July 1 of the current year, with an authorization of
100,000 shares of 4% preferred stock, $40 par and 750,000 shares of
$25 par common stock. The following selected transactions were
completed during the first year of operations:
Journalize the transactions.
July. 1. Issued 100,000 shares of common stock
at par for cash.
July. 1
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par to an attorney...
ssuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1...
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Work Place Products Inc., a wholesaler of office products, was
organized on July 1 of the current year, with an authorization of
100,000 shares of 2% preferred stock, $40 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.
July. 1. Issued 130,000 shares of common stock
at par for cash.
July. 1
Cash
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July. 1 Issued 600 shares of common stock...
Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1...
Issuing Stock Work Place Products Inc., a wholesaler of office
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500,000 shares of $25 par common stock. The following selected
transactions were completed during the first year of operations:
Journalize the transactions. July. 1. Issued 145,000 shares of
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sales on account, 50%are expected to be collected in the month of
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