Business, 27.01.2020 20:31, roygbiv1233

Prepare journal entries to record the following four separate issuances of stock.

1. a corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.

record the issue of 4,000 shares of $5 par value common stock for $35,000 cash.
date general journal debit
credit

1
2. a corporation issued 2,000 shared of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. the stock has a $1 per share stated value.

record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. the stock has a $1 per share stated value.
date general journal debit credit
1
3. a corportation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. the stock has stated no value.

record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. the stock has no stated value.
date general journal debit credit
1
4. a corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash.

record the issue of 1,000 shares of $50 par value preferred stock for $60,000 cash.
date general journal debit credit
1

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Prepare journal entries to record the following four separate issuances of stock.

1. a c...