A)

Earnestine, Kepplinger & Co. issued 10,000 common Stock for $100,000 on May 1, 2013. Write the journal entry to record the transaction.

b)

b) In addition to Stock issued for cash on May 1, 2013, Earnestine, Kepplinger & Co. issued an additional 10,000 common Stock in exchange for land and a building. The land was valued at $60,000 and the building valued at $50,000. Record the transaction. Date Account Title and Explanation Debit Credit May

c) The lawyer that handled the issue of Stock for Earnestine, Kepplinger & Co. has sent a bill for $5,000. The lawyer has agreed to accept 500 common Stock instead of cash. Record the transaction on May 10, 2013. Date Account Title and Explanation Credit May 10