Jasper Company was organized and authorized to issue 200,000 shares of $5 par value common...
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Accounting
Jasper Company was organized and authorized to issue 200,000 shares of $5 par value common stock on January 1. Stock related transactions for the Jasper Company are as follows:
January 1 Issued 25,000 shares of common stock for $500,000.
January 2 Issued 1,000 shares of common stock to the company's attorney in exchange for services related to the organization of the company. The attorney would have charged $6,000
January 15 Issued 20,000 shares of common stock for $10 per share.
January 20 The Company purchased 5,000 shares of its own common stock at $15 per share.
January 31 Declared a $0.50 per share cash dividend to common stockholders, payable on February 15 to stockholders of record on February 5.
Journalize the above transaction
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