ortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 41,000 shares at $10 share. Jun. 10 Issued 130,000 shares in exchange for land with a clearly determined value of $830,000. Aug. 3 Purchased 8,000 shares of treasury stock at $9 per share. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 31 fill in the blank 5b050cfc1fe8fc9_2 fill in the blank 5b050cfc1fe8fc9_3 fill in the blank 5b050cfc1fe8fc9_5 fill in the blank 5b050cfc1fe8fc9_6 fill in the blank 5b050cfc1fe8fc9_8 fill in the blank 5b050cfc1fe8fc9_9 Jun. 10 fill in the blank 5b050cfc1fe8fc9_11 fill in the blank 5b050cfc1fe8fc9_12 fill in the blank 5b050cfc1fe8fc9_14 fill in the blank 5b050cfc1fe8fc9_15 fill in the blank 5b050cfc1fe8fc9_17 fill in the blank 5b050cfc1fe8fc9_18 Aug. 3 fill in the blank 5b050cfc1fe8fc9_20 fill in the blank 5b050cfc1fe8fc9_21 fill in the blank 5b050cfc1fe8fc9_23 fill in the blank 5b050cfc1fe8fc9_24 B. Calculate how many shares of stock are outstanding at August 3. fill in the blank 9ff394fd0fd0fe3_1 shares
ortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 41,000 shares at $10 share. Jun. 10 Issued 130,000 shares in exchange for land with a clearly determined value of $830,000. Aug. 3 Purchased 8,000 shares of treasury stock at $9 per share. A. Prepare the journal entries to record the transactions. If an amount box does not require an entry, leave it blank. Jan. 31 fill in the blank 5b050cfc1fe8fc9_2 fill in the blank 5b050cfc1fe8fc9_3 fill in the blank 5b050cfc1fe8fc9_5 fill in the blank 5b050cfc1fe8fc9_6 fill in the blank 5b050cfc1fe8fc9_8 fill in the blank 5b050cfc1fe8fc9_9 Jun. 10 fill in the blank 5b050cfc1fe8fc9_11 fill in the blank 5b050cfc1fe8fc9_12 fill in the blank 5b050cfc1fe8fc9_14 fill in the blank 5b050cfc1fe8fc9_15 fill in the blank 5b050cfc1fe8fc9_17 fill in the blank 5b050cfc1fe8fc9_18 Aug. 3 fill in the blank 5b050cfc1fe8fc9_20 fill in the blank 5b050cfc1fe8fc9_21 fill in the blank 5b050cfc1fe8fc9_23 fill in the blank 5b050cfc1fe8fc9_24 B. Calculate how many shares of stock are outstanding at August 3. fill in the blank 9ff394fd0fd0fe3_1 shares
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions:
Jan. 31 | Issued 41,000 shares at $10 share. |
Jun. 10 | Issued 130,000 shares in exchange for land with a clearly determined value of $830,000. |
Aug. 3 | Purchased 8,000 shares of |
A. Prepare the
Jan. 31 | fill in the blank 5b050cfc1fe8fc9_2 | fill in the blank 5b050cfc1fe8fc9_3 | |
fill in the blank 5b050cfc1fe8fc9_5 | fill in the blank 5b050cfc1fe8fc9_6 | ||
fill in the blank 5b050cfc1fe8fc9_8 | fill in the blank 5b050cfc1fe8fc9_9 | ||
Jun. 10 | fill in the blank 5b050cfc1fe8fc9_11 | fill in the blank 5b050cfc1fe8fc9_12 | |
fill in the blank 5b050cfc1fe8fc9_14 | fill in the blank 5b050cfc1fe8fc9_15 | ||
fill in the blank 5b050cfc1fe8fc9_17 | fill in the blank 5b050cfc1fe8fc9_18 | ||
Aug. 3 | fill in the blank 5b050cfc1fe8fc9_20 | fill in the blank 5b050cfc1fe8fc9_21 | |
fill in the blank 5b050cfc1fe8fc9_23 | fill in the blank 5b050cfc1fe8fc9_24 |
B. Calculate how many shares of stock are outstanding at August 3.
fill in the blank 9ff394fd0fd0fe3_1 shares
![Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common
stock. In its first year, the company has the following transactions:
Jan. 31
Issued 41,000 shares at $10 share.
Jun. 10
Issued 130,000 shares in exchange for land with a clearly determined value
Aug. 3
Purchased 8,000 shares of treasury stock at $9 per share.
A. Prepare the journal entries to record the transactions. If an amount box does not
require an entry, leave it blank.
Jan. 31
Jun. 10
Aug. 3
B. Calculate how many shares of stock are outstanding at August 3.
shares](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F727e4093-8ead-4bf8-b086-0722c8766cbb%2Ffbfdb65d-93bd-4e75-8e7c-fc1a9095bd95%2Fmnvtp3h_processed.png&w=3840&q=75)
Transcribed Image Text:Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common
stock. In its first year, the company has the following transactions:
Jan. 31
Issued 41,000 shares at $10 share.
Jun. 10
Issued 130,000 shares in exchange for land with a clearly determined value
Aug. 3
Purchased 8,000 shares of treasury stock at $9 per share.
A. Prepare the journal entries to record the transactions. If an amount box does not
require an entry, leave it blank.
Jan. 31
Jun. 10
Aug. 3
B. Calculate how many shares of stock are outstanding at August 3.
shares
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