Nada Corporation is authorized

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Description

1.
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 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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