Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of...

Question

Question

Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, w

Apr. 9. Issued 22,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $61,00

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Credit А 1 Date Accounts titles and Explanation 2 Feb-05 Cash(125000*15) Common stock (To record issue of common stock) Debit

Add a comment

Answer 2

Similar Homework Help Questions

Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of...

Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an auth rization of 125 000 shares of preferred 2% stock 500,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: ournalize the transactions. Feb. 5. Issued 105,000 shares of common stock at par for cash S40 par n Feb.5 Feb. 5. Issued 600 shares of common stock at par to...
Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of...

Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 50,000 shares of preferred 2% stock, $60 par and 1,000,000 shares of $8 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. If an amount box does not require an entry, leave it blank. Feb. 5. Issued 700,000 shares of common stock at par for cash. Feb. 5...
Show Me How Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on...

Show Me How Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 50,000 shares of preferred 2% stock, $60 par and 1,000,000 shares of 58 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions If an amount box does not require an entry, leave it blank Feb. 5. Issued 700,000 shares of common stock at par for...

Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1...

Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 75,000 shares of 2% preferred stock, $55 par and 400,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalire the transactions July. 1. Issued 155,000 shares of common stock at par for cash. July 1 Cash Common Stock ✓ Feedback July 1 Issued 450 shares of...
Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1...

Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 125,000 shares of 1% preferred stock, $65 par and 350,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July. 1. Issued 90,000 shares of common stock at par for cash. July. 1 July. 1 Issued 500 shares of common stock at par to...
Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1...

Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 100,000 shares of 2% preferred stock, $60 par and 600,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July. 1. Issued 125,000 shares of common stock at par for cash. July. 1 July. 1 Issued 550 shares of common stock at par to...

Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1...

Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 125,000 shares of 3% preferred stock, $60 par and 650,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July. 1. Issued 120,000 shares of common stock at par for cash. July 1 July. 1 Issued 400 shares of common stock at par to...
Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authoriz...

Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 100,000 shares of 3% preferred stock, $65 par and 450,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July. 1. Issued 100,000 shares of common stock at par for cash. July. 1 July. 1 Issued 650 shares of common stock at par to an attorney...
Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current...

Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 26,000 shares of preferred 2% stock, $100 par and 550,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Feb. 5 5 Issued 247,000 shares of common stock at par for cash. Issued 300 shares of common stock at par to an attorney in payment of legal fees for organizing...

Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current...

Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 26,000 shares of preferred 2% stock, $100 par and 550,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Feb. 5 Issued 247,000 shares of common stock at par for cash. 5 Issued 300 shares of common stock at par to an attorney in payment of legal fees for organizing...

Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of...

Homework Answers