Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 11.00

Soup Dragons

On January 2, The Soup Dragons receive a corporate charter authorizing the sale of 200,000 shares of $10 par value common stock. During the year, The Soup Dragons had the following transactions:

Jan. 5

Issued 20,000 shares of common stock for cash at $10 per share.

10

Issued 30,000 shares of common stock for cash at $30 per share.

23

Issued 10,000 shares of common stock for land that had a fair market price of $320,000.

Mar. 15

Issued 1,000 shares of common stock for attorney services used in organizing the corporation valued at $32,000.

Apr. 28

Acquired 5,000 shares of its common stock at $32 per share for the treasury.

June 18

Issued 15,000 shares of common stock for cash at $33 per share.

Sept. 23

Sold 2,000 shares of the treasury stock at $35 per share.

Instructions

Journalize the transactions. (Omit explanations)

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 01:07 PM My Price 11.00

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