Stock Subscriptions and Treasury Stock

Nash & Roth formed a corporation and had the following organization costs and stock transactions during the year:

June 30	Incurred the following costs of incorporation:
	Incorporation fees	$700
	Attorneys' fees	9,450
	Promotion fees	7,960
July 15	Issued 7,190 shares of $10 par common stock for $75,130 cash.
Aug. 1	Received subscriptions for 8,480 shares of $10 par common stock for $85,853.
15	Issued 16,920 shares of $10 par common stock in exchange for a building and fixtures with a fair market value of $174,780.
31	Received a payment of $50,770 for the common stock subscription.
Sept. 3	Purchased 2,160 shares of its own $10 par common stock for $11 a share.
18	Received the balance in full for the common stock subscription and issued the stock.
30	Sold 800 shares of its treasury stock for $11.60 a share.
Oct. 15	Issued 3,000 shares of $40 par, 5% preferred stock in exchange for land with a fair market value of $124,600.
31	Sold 440 shares of its treasury stock for $10.60 a share.

Required:

Prepare journal entries for these transactions.

Page:

	DATE	ACCOUNT TITLE	DOC. NO.	POST. REF.	DEBIT	CREDIT
1	20-- June 30				fill in the blank 2	fill in the blank 3	1
2					fill in the blank 5	fill in the blank 6	2
3							3
4	July 15				fill in the blank 8	fill in the blank 9	4
5					fill in the blank 11	fill in the blank 12	5
6					fill in the blank 14	fill in the blank 15	6
7							7
8	Aug. 1				fill in the blank 17	fill in the blank 18	8
9					fill in the blank 20	fill in the blank 21	9
10					fill in the blank 23	fill in the blank 24	10
11							11
12	15				fill in the blank 26	fill in the blank 27	12
13					fill in the blank 29	fill in the blank 30	13
14					fill in the blank 32	fill in the blank 33	14
15							15
16	31				fill in the blank 35	fill in the blank 36	16
17					fill in the blank 38	fill in the blank 39	17
18							18
19	Sept. 3				fill in the blank 41	fill in the blank 42	19
20					fill in the blank 44	fill in the blank 45	20
21							21
22	Sept. 18				fill in the blank 47	fill in the blank 48	22
23					fill in the blank 50	fill in the blank 51	23
24							24
25					fill in the blank 53	fill in the blank 54	25
26					fill in the blank 56	fill in the blank 57	26
27							27
28	30				fill in the blank 59	fill in the blank 60	28
29					fill in the blank 62	fill in the blank 63	29
30					fill in the blank 65	fill in the blank 66	30
31							31
32	Oct. 15				fill in the blank 68	fill in the blank 69	32
33					fill in the blank 71	fill in the blank 72	33
34					fill in the blank 74	fill in the blank 75	34
35							35
36	31				fill in the blank 77	fill in the blank 78	36
37					fill in the blank 80	fill in the blank 81	37
38					fill in the blank 83	fill in the blank 84	38

Answer rating: 100% (QA)

Nash Roth Journal Enteries Trans Particulars Jun30 Organization expenses Cash To record payment of a... View the full answer