wileyplus problem 13-1a and problem 12-2a

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problem 13-1a


delong corporation was organized on january 1, 2014. it is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 455,700 shares of no-par common stock with a stated value of $2 per share. the following stock transactions were completed during the first year.


jan. 10 issued 83,700 shares of common stock for cash at $4 per share.
mar. 1 issued 4,800 shares of preferred stock for cash at $110 per share.
apr. 1 issued 24,000 shares of common stock for land. the asking price of the land was $86,200. the fair value of the land was $85,000.
may 1 issued 77,800 shares of common stock for cash at $4.45 per share.
aug. 1 issued 10,500 shares of common stock to attorneys in payment of their bill of $41,200 for services performed in helping the company organize.

sept. 1 issued 10,500 shares of common stock for cash at $6 per share.
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