The Mayfair Corporation was organized on August 1, 2016. The firm is authorized to issue 80,000 shares of no-par-value common stock with a stated value of $20 per share and 20,000 shares of $50 par-value, 12 percent preferred stock.
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1 |
Issued 600 shares of common stock to Justin Baker for $20 a share.
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1 |
Issued 450 shares of preferred stock to Austin Moore at par value.
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6 |
Issued 300 shares of common stock to Mandie Brown for $24 a share.
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10 |
Received a subscription for 800 shares of preferred stock from Lauren Durio for $55 a share, payable in two installments due on the 15th and 31st of August.
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15 |
Received payment of stock subscription installment due from Lauren Durio (one-half of the purchase price).
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31 |
Received the balance due on the stock subscription of August 10 from Lauren Durio. Issued the stock.
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