The following events occurred for Johnson Company: Received investment of cash by organizers and distributed...
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The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,020 shares of $1 par value common stock with a market price of $40 per share. Leased $8,000 of equipment, paying $1,400 in cash and signing a long-term right-of-use lease for the rest owed. Borrowed $14,000 cash from a bank. Loaned $700 to an employee who signed a note due in six months. Purchased $17,000 of land; paid $4,000 in cash and signed a note for the balance
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