Randolph Corporation Issued 9,000 Ordinary Shares

Essay

Randolph Corporation issued 9,000 ordinary shares.
Instructions
Prepare the entry for the issuance under the following assumptions.
(a) The shares had a par value of $5 per share and were issued for a total of $65,000.
(b) The shares had a par value of $5 per share and were issued to attorneys for services during in-corporation valued at $65,000.
(c) The shares had a par value of $5 per share and were issued for land worth $65,000.