During its first year of operations, Bramble Corporation had the following transactions pertaining to its common stock. Jan. 10   Issued 81,500 shares for cash at $6 per share. Mar. 1   Issued 5,000 shares to attorneys in payment of a bill for $36,200 for services rendered in helping the company to incorporate. July 1   Issued 33,300 shares for cash at $8 per share. Sept. 1   Issued 62,400 shares for cash at $10 per share. (a)       Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.)

On June 5, Belen Corporation reacquired 3,300 shares of its own common stock at $45 per share. On July 15, Belen sold 2,000 of the reacquired shares at $48 per share. On August 30, Belen sold the remaining shares at $42 per share. Journalize the transactions of June 5, July 15, and August 30. Refer to the Chart of Accounts for exact wording of account titles.

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 45,000 shares at $11 share. Jun. 10 Issued 110,000 shares in exchange for land with a clearly determined value of $850,000. Aug. 3 Purchased 11,000 shares of treasury stock at $8 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 fill in the blank     fill in the blank fill in the blank     fill in the blank fill in the blank Jun. 10   fill in the blank fill in the blank     fill in the blank fill in the blank     fill in the blank fill in the blank Aug. 3   fill in the blank fill in the blank     fill in the blank fill in the blank B. Calculate how many shares of stock are outstanding at August 3. fill in the blank  ________shares

A corporation was organized on January 1 of the current year, with an authorization of 10,000 shares of $4 preferred stock, $10 par, and 50,000 shares of $10 par common stock.   The following selected transactions were completed during the first year of operations:   Jan. 1 Issued 5,000 shares of Preferred stock at $20 per share for cash.            15 Issued 200 shares of common stock at par to an attorney in payment of legal fees.  The value of the stock was at the time of payment was $25 per share.     Feb. 1 Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $60,000, $20,000, and $40,000 respectively.     Mar. 1 Issued 2,000 shares of common stock at $16 for cash.

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 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…

Worldwide Company obtained a charter from the state in January that authorized 200,000 shares ofcommon stock, $10 par value. During the first year, the company earned $38,200 and the followingselected transactions occurred in the order given:a. Issued 60,000 shares of the common stock at $12 cash per share.b. Reacquired 2,000 shares at $15 cash per share from stockholders; the shares are now held intreasury.c. Reissued 1,000 of the shares in transaction ( b) two months later at $18 cash per share.Required:1. Indicate the effects of each transaction on the accounting equation.2. Prepare journal entries to record each transaction.3. Prepare the stockholders’ equity section of the balance sheet at December 31.TIP: Because this is the first year of operations, Retained Earnings has a zero balance at thebeginning of the year.