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