On January 2, The Soup Dragons receive a corporate charter authorizing the sale of 200,000 shares of…


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On January 2, The Soup Dragons receive a corporate charter authorizing the sale of 200,000 shares of… 1 answer below » On January 2, The Soup Dragons receive a corporate charter authorizing the sale of 200,000 shares of $10 par value common stock. During the year, The Soup Dragons had the following transactions: View complete question » Jan. 5 Issued 20,000 shares of common stock for cash at $10 per share. 10 Issued 30,000 shares of common stock for cash at $30 per share. 23 Issued 10,000 shares of common stock for land that had a fair market price of $320,000. Mar. 15 Issued 1,000 shares of common stock for attorney services used in organizing the corporation valued at $32 On January 2, The Soup Dragons receive a corporate charter authorizing the sale of 200,000 shares of $10 par value common stock. During the year, The Soup Dragons had the following transactions: Jan. 5 Issued 20,000 shares of common stock for cash at $10 per share. 10 Issued 30,000 shares of common stock for cash at $30 per share. 23 Issued 10,000 shares of common stock for land that had a fair market price of $320,000. Mar. 15 Issued 1,000 shares of common stock for attorney services used in organizing the corporation valued at $32,000. Apr. 28 Acquired 5,000 shares of its common stock at $32 per share for the treasury. June 18 Issued 15,000 shares of common stock for cash at $33 per share. Sept. 23 Sold 2,000 shares of the treasury stock at $35 per share. Instructions Journalize the transactions. (Omit explanations) View less » Jun 11 2014 04:10 PM

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