Brandt Corporation Is Authorized to Issue 100,000 Shares of $5

question 122

Essay

Brandt Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares of $100 par value,8 percent preferred stock.Prepare entries in journal form without explanations to record the following transactions:
$\begin{array}{l}\text { Apr. } 15 \text { Issued 1,000 shares of common stock to an attorney for a bill of } \$ 9,000 \text { in } \\\text { connection with the organization of the corporation. } \\25 \text { Issued } 1,000 \text { shares of preferred stock for cash of } \$ 115 \text { per share. } \\27 \text { Issued } 8,000 \text { shares of common stock in exchange for land for a plant site } \\\text { valued at } \$ 50,000 \text {. } \\\text { May } 1 \text { Issued } 15,000 \text { shares of common stock for } \$ 90,000 \text { in cash. }\end{array}$

---

Definitions:

Anterior Chamber

The fluid-filled space inside the eye between the iris and the cornea's innermost surface, playing a role in maintaining intraocular pressure.

Vitreous

Relating to the vitreous humor, a clear, gel-like substance filling the space between the lens and the retina of the eyeball, contributing to its shape and optical properties.

Saline

A solution of salt in water, commonly used in medical practice for intravenous infusions, nasal irrigation, and wound cleaning.

Weber

Relates to the Weber test, a quick screening test for hearing that involves placing a vibrating tuning fork on the center of the forehead.