Accounting - please look

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Mustang4119

New Member

May 26, 2004

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Jun 16, 2006

#21

• Jun 16, 2006

• #21

On February 1 of the current year, Pace, Inc. issued 500 shares of $2 par common stock to an attorney in return for preparing and filing the articles of Incorporation. The value of the services is 7,500. Journalize this transaction.

Is this right??

Organizational expenses $7500
Common stock $1000
Cash $6500

 

M

Mustang4119

New Member

May 26, 2004

162

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0

Jun 16, 2006

#22

• Jun 16, 2006

• #22

Ernad said:

how come you don't ask your instructor to help you?

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Ernad

celibate sans pants

Apr 2, 2004

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Grand Rapids, MI

Jun 16, 2006

#23

• Jun 16, 2006

• #23

I mean it's normal to ask once in a while or so, but it seems like you want every single homework problem solved for you. So you either don't care or have some serious time management issues. Somehow I don't think it's the latter.