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A corporation was organized on January 1 of the current year, with an authorization of 20,000 shares of 4%, $12 par preferred stock, and 100,000 shares of $3 par common stock.The following selected transactions were completed during the first year of operations:Jan. 3Issued 15,000 shares of common stock at $23 per share for cash.31Issued 200 shares of common stock to an attorney in payment of legal fees for organizing the corporation. The value of the stock at the time of payment was $25 per share.Feb. 24Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $65,000, $120,000, and $45,000, respectively.Mar. 15Issued 2,000 shares of preferred stock at $56 for cash.Journalize the transactions.
Organizational Members
Individuals who belong to and participate in the structure of an organization, contributing to its culture and goals.
Better Future
A forward-looking aspiration or hope for improved conditions, success, and well-being in personal life or society at large.
Persuade People
The act of convincing or influencing others to adopt a particular stance, belief, or course of action through logical argumentation, appeal to emotions, or other techniques.
Like You
The perception or feeling of similarity or familiarity towards someone or something.
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