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The following selected transactions pertain to Ehrlich Corporation: Jan.     3     Issued 90,000 shares, $10 par value, common stock for $32 per share.   Feb.  10    Issued 11,000 shares, $10 par value, common stock in exchange for a building.  The fair market value of the building is $360,000. The advertised price for the building was $400,000.   Mar. 15      Issued 7,000 shares of $90 par value preferred stock for $115 per share.   April 2        Ehrlich Company issued 6,500 shares of its $10 par value common stock in payment of its attorney's bill of $81,000. The bill was for services performed in helping the company incorporate.     Instructions Journalize the transactions

The following selected transactions pertain to Ehrlich Corporation: Jan.     3     Issued 90,000 shares, $10 par value, common stock for $32 per share.   Feb.  10    Issued 11,000 shares, $10 par value, common stock in exchange for a building.  The fair market value of the building is $360,000. The advertised price for the building was $400,000.   Mar. 15      Issued 7,000 shares of $90 par value preferred stock for $115 per share.   April 2        Ehrlich Company issued 6,500 shares of its $10 par value common stock in payment of its attorney's bill of $81,000. The bill was for services performed in helping the company incorporate.     Instructions Journalize the transactions

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  1. The following selected transactions pertain to Ehrlich Corporation:

Jan.     3     Issued 90,000 shares, $10 par value, common stock for $32 per share.

 

Feb.  10    Issued 11,000 shares, $10 par value, common stock in exchange for a building.  The fair market value of the building is $360,000. The advertised price for the building was $400,000.

 

Mar. 15      Issued 7,000 shares of $90 par value preferred stock for $115 per share.

 

April 2        Ehrlich Company issued 6,500 shares of its $10 par value common stock in payment of its attorney's bill of $81,000. The bill was for services performed in helping the company incorporate.

 

 

Instructions

Journalize the transactions

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