Accounting - please look

[Mustang4119]

On February 1 of the current year, Pace, Inc. issued 500 shares of $2 par common stock to an attorney in return for preparing and filing the articles of Incorporation. The value of the services is 7,500. Journalize this transaction.

Is this right??

Organizational expenses $7500
Common stock $1000
Cash $6500

 

[Mustang4119]

how come you don't ask your instructor to help you?

 

[Ernad]

I mean it's normal to ask once in a while or so, but it seems like you want every single homework problem solved for you. So you either don't care or have some serious time management issues. Somehow I don't think it's the latter.