146.On February 13, Epperson Company issue for cash 75,000 shares of no-par common stock (with a stated value of$125) at $140. On September 9, Epperson issued at par 15,000 shares of 1%, $60 par preferred stock at par forcash. On November 23, Epperson issued for cash 8,000 shares of 1%, $60 par preferred stock at $70.
Journalize the entries to record the February 13, September 9, and November 23 transactions.
147.A corporation was organized on January 1 of the current year, with an authorization of 20,000 shares of 4%, $12par preferred stock, and 100,000 shares of $3 par common stock.
The following selected transactions were completed during the first year of operations:
Jan. 3Issued 15,000 shares of common stock at $23 per share for cash.
31Issued 200 shares of common stock to an attorney in payment of legal fees fororganizing the corporation. The value of the stock at the time of payment was $25per share.
Feb. 24Issued 20,000 shares of common stock in exchange for land, buildings, andequipment with fair market prices of $65,000, $120,000, and $45,000 respectively.
Mar. 15Issued 2,000 shares of preferred stock at $56 for cash.
Journalize the transactions.
148.On April 10, Maranda Corporation issued for cash 11,000 shares of no-par common stock at $25. On May 5,Maranda issued at par 1,000 shares of 4%, $50 par preferred stock for cash. On May 25, Maranda issued for cash15,000 shares of 4%, $50 par preferred stock at $55.
Journalize the entries to record the April 10, May 5, and May 25 transactions.