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urgent!!!! United Corporation was authonzed to issue 550,000 $200 preferred shares and 650,000 common...

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Accounting

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urgent!!!!

United Corporation was authonzed to issue 550,000 $200 preferred shares and 650,000 common shares During January 2014, the first month of operations, the following selected transactions occurred a January 11 Issued 10.000 preferred shares at $6.00 per Share for cash January 13 Issued 10,000 common shares at $450 per share for cash c January 19 Gave the corporation's promoters 10,000 common shares for their services in organizing the corporation, The directors valued the services at $30.000 d January 19 7,000 preferred shares and 10,000 common shares were issued at $500 and $3.00, respectively, cash e January 24 10 000 of the common shares were issued for a total of $40,000 cash 1 January 25 6,000 common shares were issued in exchange for land valued at $24,000. 9 January 26 14,000 of the preferred shares were issued for a total of $14,000 cash Prepare joumal entries for the above transactions Enter the transaction letter as the description when entering the transactions in the journal Dates must be entered in the format dd/mmm (eJanuary 15 would be 15/Jan) Date General Journal Account/Explanation Page GUS F Debit Credit PM

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