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Sheffield Corporation, a private corporation, was organized on Febru.pdf

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Sheffield Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 91,200, $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Journalize the transactions. Feb.10Issued 72,960 common shares at $4 per share.Mar.1Issued 4,560 preferred shares at $114 per share.Apr.1Issued 20,520 common shares for land. The land's asking price was $91,200 and its appraised value was $82,080.June20Issued 71,136 common shares at $4.50 per share.July7Issued 9,120 common shares to lawyers to pay for their bill of $41,040 for services they performed in helping the company organize.Sept.1Issued 9,120 common shares at $5 per share.Nov.1Issued 912 preferred shares at $120 per share..

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Sheffield Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 91,200, $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Journalize the transactions. Feb.10Issued 72,960 common shares at $4 per share.Mar.1Issued 4,560 preferred shares at $114 per share.Apr.1Issued 20,520 common shares for land. The land's asking price was $91,200 and its appraised value was $82,080.June20Issued 71,136 common shares at $4.50 per share.July7Issued 9,120 common shares to lawyers to pay for their bill of $41,040 for services they performed in helping the company organize.Sept.1Issued 9,120 common shares at $5 per share.Nov.1Issued 912 preferred shares at $120 per share.

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