Occupational Products Inc., a wholesaler of office products, was organized on March 1 of the current year, with an authorization of 27,000 shares of preferred 2% stock, $100 par and 600,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Mar.1Issued 213,000 shares of common stock at par for cash.
1Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.
May31Issued 69,400 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $149,100, $505,120 and $164,700 respectively.
Jul.1Issued 17,600 shares of preferred stock at $105 for cash.
Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Which of the following is the least risky? collectables stock savings bond savings account

Which is not an example of a cyclical company? a) airlines b) hotel industry c) medical d) theme parks

Alandowner entered into a written agreement with a real estate broker whereby the broker would receive a commission of 10% of the sale price if he procured a "ready, willing, and able buyer" for the landowner's property and if the sale actually proceeded through closing. the broker found a buyer who agreed in writing to buy the property from the landowner for $100,000, the landowner's asking price. the buyer put up $6,000 as a down payment. the agreement between the landowner and the buyer contained a liquidated damages clause providing that, if the buyer defaulted by failing to tender the balance due of $94,000 at the closing date, damages would be 10% of the purchase price. the landowner included that clause because she was counting on using the proceeds of the sale for a business venture that would likely net her at least $10,000. the buyer became seriously ill and defaulted. when he recovered, he demanded that the landowner return his $6,000, and the landowner refused. the broker also demanded the $6,000 from the landowner and was refused. the broker and the buyer filed separate suits against the landowner, with the buyer pleading impossibility of performance. the two cases are consolidated into a single case. how should the court rule as to the disposition of the $6,000?