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

question 54

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:

Housing Markets

The supply and demand for residential properties and the economic factors affecting the price and availability of homes.

Crime Rates

The number of crimes committed per unit of population within a given time frame.

Economic Growth

An increase in a country's output of goods and services over time, often measured as the rate of change in real GDP.

Specialized Equipment

Machinery or tools designed for a specific task or industry, often crafted to perform particular functions that general equipment cannot.