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    E12-2 Garza Co.

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    Garza Co. had the following transactions during the current period. Mar. 2 Issued 5, 000 shares of $1 par value common stock to attorneys in payment of a bill for $30, 000 for services provided in helping the company to incorporate. June 12 Issued 60, 000 shares of $1 par value common stock for cash of $375, 000. July 11 Issued 1, 000 shares of $100 par value preferred stock for cash at $110 per share. Nov. 28 Purchased 2, 000 shares of treasury stock for $80, 000.

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    Mar. 2 Attorneys Expense 30,000
    Common Stock 5,000
    Additional ...

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