Question: Journalize the transactions. If an amount box does not require an entry, leave it blank. Feb. 5 . Issued 1 0 0 , 0 0

Journalize the transactions. If an amount box does not require an
Journalize the transactions.
If an amount box does not require an entry, leave it blank.
Feb. 5. Issued 100,000 shares of common stock at par for cash.
Feb. 5.
Common Stock
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What is the company receiving and at what price is the stock being issued?
Feb. 5. Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.
Feb. 5. Organizational Expenses
Recall that stock may be issued for reasons other than to receive cash. What are these shares paying for?
Apr. 9.
Recall that shares of stock can be issued to acquire assets. At what value must the preferred stock and common stock accounts be recorded?
June 14. Issued 38,000 shares of preferred stock at $56 for cash.
June 14.
entry, leave it blank. Feb. 5. Issued 100,000 shares of common stock

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