Problems And Exercises in Accounting

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Lansing, 200 shares; W. D. Schmitz, 1, 000 shares, and S. P. Roll- ins and D. R. Rich, 300 shares each. The terms of these sub- scriptions are the same as above.
Sept. 15. A call for the installment due on the 30th is sent the various subscribers.
Sept. 29. Checks are received from the Sheels, Durfee, and Rollins covering their installments due on the 30th.
Sept. 30. Checks are received for proper amounts from all remaining subscribers except R. V. Squier.
Nov. 10. Irving Abbot buys 50 shares o
...f stock at par, pay- ing cash. An appropriate certificate is made out and issued to him.
CORPORATE PROPRIETORSHIP 163 Nov. 15. R. V. Squier pays his past due installment with interest at 6% for the period since Sept. 30.
Dec. 15. Following lengthy negotiations a factory building is purchased from Sheel Bros. , partners, for $15, 000. A pay- ment of $5, 000 is made and the corporation gives its note for the balance.
Dec. 16. Irving^ Abbott sells h is, stock to R. B. Sheel for $11 per share.
Dec. 17, A call for the installment due Dec.


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