Question: Help will thumbs up, terms in last picture! Problem 13-1A DeLong Corporation was organized on January 1, 2017. It is authorized to issue 11,000 shares

Help will thumbs up, terms in last picture!

Corporation was organized on January 1, 2017. It is authorized to issue

11,000 shares or 8% $100 par value preferred stock and 524,000 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 83,000 shares of common stock for cash at $4 per

share. Mar. 1 Issued 4,600 shares of preferred stock for cash at

Problem 13-1A DeLong Corporation was organized on January 1, 2017. It is authorized to issue 11,000 shares or 8% $100 par value preferred stock and 524,000 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 83,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 4,600 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 23,000 shares of common stock for land. The asking price of the land was $89,500. The fair value of the land was $86,000 May 1 Issued 81,000 shares of common stock for cash at $5.00 per share. Aug. 1 Issued 10,500 shares of common stock to attorneys in payment of their bill of $42,000 for services performed in helping the company organize Sept. 1 Issued 10,500 shares of common stock for cash at $5 per share. Nov. 1 Issued 3,000 shares of preferred stock for cash at $112 per share

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