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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:
$\begin{array}{l}\text { Apr. } 15 \text { Issued 1,000 shares of common stock to an attorney for a bill of } \$ 9,000 \text { in } \\\text { connection with the organization of the corporation. } \\25 \text { Issued } 1,000 \text { shares of preferred stock for cash of } \$ 115 \text { per share. } \\27 \text { Issued } 8,000 \text { shares of common stock in exchange for land for a plant site } \\\text { valued at } \$ 50,000 \text {. } \\\text { May } 1 \text { Issued } 15,000 \text { shares of common stock for } \$ 90,000 \text { in cash. }\end{array}$ $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:

Internal Attributions

The process of ascribing the causes of behavior to personal dispositions, traits, abilities, and feelings.

Exaggerate

To represent something as being larger, better, worse, or more important than it actually is.

Increased Efforts

The act of putting in more energy or work towards achieving a goal.

Inadequate Background

A situation or condition in which an individual lacks the necessary education, experience, or qualifications to perform or understand certain tasks or roles.