Nada Corporation is authorized to issue 1,500,000 shares of $4 par value common stock
Nada Corporation is authorized to issue 1,500,000 shares of $4 par value common stock. During2013, its first year of operation, the company has the following stock transactions. Jan.15 Issued 520,000 shares of stock at $17 per share.
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Jan.30 The company’s attorney accepted 500 shares of common stock as payment for legalServices rendered in helping the company in corporate. The legal services are estimated to have a value of $12,000.
July2 Issued100,000 shares of stock for land. The land had an asking price of $1,900,000. The stock is currently selling on a national exchange at$18 per share.
Aug 1 Issued a 2-for-1stock split.
Oct 1 Declareda$0.75 per share dividend, payable December 15 to stockholders of record on November 15.
Dec 15 Paid the cash dividend.
Instructions: Journalize the transactions for Nada Corporation.
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