In January 2010, Janas Corporation was organized and authorized to issue

1,000,000 shares of no-par common stock and 25,000 shares of 5 percent, $50 par value, noncumulative preferred stock. The stock-related transactions for the first year's operations were as follows:

A. Jan. 19 Sold 7,500 shares of common stock for $15,750. State law requires a minimum of $1 stated value per share.

Jan. 19 Sold 7,500 shares of common stock for $15,750. State law requires a minimum of $1 stated value per share.

21 Issued 2,500 shares of common stock to attorneys and accountants for services valued at $5,500 and provided during the organization of the corporation.

Feb. 7 Issued 15,000 shares of common stock for a building that had an appraised value of $39,000.

Mar. 22 Purchased 5,000 shares of its common stock at $3 per share.

July 15 Issued 2,500 shares of common stock to employees under a stock option plan that allows any employee to buy shares at the current market price, which is now $3 per share

Aug. 1 Sold 1,250 shares of treasury stock for $4 per share.

Sept. 1 Declared a cash dividend of $0.15 per common share to be paid on September 25 to stockholders of record on September 15.

15 Date of record for cash dividends.

25 Paid cash dividends to stockholders of record on September 15.

Oct. 30 Issued 2,000 shares of common stock for a piece of land. The stock was selling for $3 per share, and the land had a fair market value of $6,000.

Dec. 15 Issued 1,100 shares of preferred stock for $50 per share.

Required

1. For each of the above transactions, enter in the blanks provided the account numbers and dollar amounts (as shown in the example) for the account(s) debited and credited. The account numbers are listed below.

110 Cash 312 Additional Paid-in Capital
120 Land 313 Paid-in Capital, Treasury Stock
121 Building 340 Retained Earnings
220 Dividends Payable 341 Dividends
305 Preferred Stock 350 Treasury Stock, Common
310 Common Stock 510 Start-up and Organization Costs