Rowan College SSOUTH JERSEY eragmen -Gonge Decs * Couse Home apenvellum.ecolege. MyLab Math SPRING 2020 COLLEGE ALGEBRA 0001 Course Home y Courses Eoure Mome SPRING 2020 COLLEGE ALGEBRA Assignments Sedy Plan Current Original Plus sepera t Corrections Name: Athanasies Mertis AC-104 13 1. Baird Products Inc. A wholesaler of office products was organized on January 30 of the current year with an authorization of 80,000 shares of 2% preferred stock, $75 and 800,000 shares of $20 common stock. The following transactions were completed during the first year of operations: par Jan. 30 Issued 300,000 shares of common stock at par for cash *V31 Issued 750 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. VFeb 21 Issued 32.000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $150,000, $460.000 and $90,000 respectively March 2 Issued 15,000 shares of preferred stock at $77.50 for cash Journalize the transactions. 142. McCool Corporation wholesales repair products to equipment manufacturers. On April 1, 2010 McCool Corporation issued $30,00,000 of five year 10% bonds at a market (effective) interest rate of 8%, receiving cash of $32,466,500. Interest is payable nril 1 and October 1. Journalize the entries to record the following
Rowan College SSOUTH JERSEY eragmen -Gonge Decs * Couse Home apenvellum.ecolege. MyLab Math SPRING 2020 COLLEGE ALGEBRA 0001 Course Home y Courses Eoure Mome SPRING 2020 COLLEGE ALGEBRA Assignments Sedy Plan Current Original Plus sepera t Corrections Name: Athanasies Mertis AC-104 13 1. Baird Products Inc. A wholesaler of office products was organized on January 30 of the current year with an authorization of 80,000 shares of 2% preferred stock, $75 and 800,000 shares of $20 common stock. The following transactions were completed during the first year of operations: par Jan. 30 Issued 300,000 shares of common stock at par for cash *V31 Issued 750 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. VFeb 21 Issued 32.000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $150,000, $460.000 and $90,000 respectively March 2 Issued 15,000 shares of preferred stock at $77.50 for cash Journalize the transactions. 142. McCool Corporation wholesales repair products to equipment manufacturers. On April 1, 2010 McCool Corporation issued $30,00,000 of five year 10% bonds at a market (effective) interest rate of 8%, receiving cash of $32,466,500. Interest is payable nril 1 and October 1. Journalize the entries to record the following
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Rowan College
SSOUTH JERSEY
eragmen -Gonge Decs
* Couse Home
apenvellum.ecolege.
MyLab Math
SPRING 2020 COLLEGE ALGEBRA
0001
Course Home
y Courses
Eoure Mome
SPRING 2020 COLLEGE ALGEBRA
Assignments
Sedy Plan
Current
Original
Plus sepera t
Corrections
Name: Athanasies Mertis
AC-104
13 1. Baird Products Inc. A wholesaler of office products was organized on January 30 of
the current year with an authorization of 80,000 shares of 2% preferred stock, $75
and 800,000 shares of $20 common stock. The following transactions were completed
during the first year of operations:
par
Jan. 30 Issued 300,000 shares of common stock at par for cash
*V31 Issued 750 shares of common stock at par to an attorney in payment of legal fees
for organizing the corporation.
VFeb 21 Issued 32.000 shares of common stock in exchange for land, buildings, and
equipment with fair market prices of $150,000, $460.000 and $90,000
respectively
March 2 Issued 15,000 shares of preferred stock at $77.50 for cash
Journalize the transactions.
142. McCool Corporation wholesales repair products to equipment manufacturers. On
April 1, 2010 McCool Corporation issued $30,00,000 of five year 10% bonds at a market
(effective) interest rate of 8%, receiving cash of $32,466,500. Interest is payable
nril 1 and October 1. Journalize the entries to record the following
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