Business, 22.04.2021 23:10 red21120p718de

The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share. Purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable to the manufacturer. Borrowed $10,000 cash from a bank. Loaned $800 to an employee who signed a note. Purchased $13,000 of land; paid $4,000 in cash and signed a note for the balance.

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The following events occurred for Johnson Company: Received investment of cash by organizers and dis...