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.
Jan.30 The companyâ€™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
Dec 15 Paid the cash dividend.
Instructions: Journalize the transactions
for Nada Corporation.