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Nada Corporation is authorized

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Question;1.;Nada Corporation is authorized to;issue 1,500,000 shares of $4 par value;common stock. During2013, its first year of operation, the company has the following;stock transactions. Jan.15 Issued 520,000 shares of stock at $17 per share.;Jan.30 The company?s attorney accepted 500 shares of common stock as payment for legalServices rendered in helping the;company in corporate. The legal services are;estimated to have a value of $12,000.;July2 Issued100,000 shares of stock for land. The land had an asking price of $1,900,000.;The stock is currently selling on a national;exchange at$18 per share.;Aug 1 Issued a 2-for-1stock split.;Oct 1 Declareda$0.75 per share dividend;payable December 15 to stockholders of record on November;15.;Dec 15 Paid the cash dividend.;Instructions: Journalize the transactions;for Nada Corporation.

 

Paper#45325 | Written in 18-Jul-2015

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