Nathanson Corporation was organized on May 1, 2014. The following events occurred during the first month. Received $74,000 cash from the five investors who organized Nathanson Corporation. Each investor received 105 shares of $10 par value common stock. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select \"No journal entry required\" in the first account field.) Thanks Solution (A) Cash A/c Dr.74000 To Share Capital 5250 (5*105*10) to Securities Premium 68750 (B)Fixtures A/c Dr. 14000 ToAmount Payables (expenses) A/c 14000 (C) Cash Dr. 11000 To Notes payable 11000 (D) Equipment A/c Dr 18000 To Cash 1200 To Notes Payable 16800 (E) Notes Recievables 1700 to cash 1700 (F) Amount Payables A/c (erxpense) Dr 14000 To Cash/bank 14000 THanks .

1. Nathanson Corporation was organized on May 1, 2014. The following events occurred during
the first month.
Received $74,000 cash from the five investors who organized Nathanson Corporation. Each
investor received 105 shares of $10 par value common stock.
Prepare journal entries for each transaction. (If no entry is required for a transaction/event,
select "No journal entry required" in the first account field.)
Thanks
Nathanson Corporation was organized on May 1, 2014. The following events occurred during
the first month.
Solution
(A) Cash A/c Dr.74000
To Share Capital 5250 (5*105*10)
to Securities Premium 68750
(B)Fixtures A/c Dr. 14000
ToAmount Payables (expenses) A/c 14000
(C) Cash Dr. 11000
To Notes payable 11000
(D) Equipment A/c Dr 18000
To Cash 1200
To Notes Payable 16800

2. (E) Notes Recievables 1700
to cash 1700
(F) Amount Payables A/c (erxpense) Dr 14000
To Cash/bank 14000
THanks