Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 8,000 shares of $10 par value common stock for $96,000 cash.
DATEGENERAL JOURNALDEBITCREDIT
1
2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has a $1 per share stated value.
DATEGENERAL JOURNALDEBITCREDIT
1
3. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value.
DATEGENERAL JOURNALDEBITCREDIT
1
4. A corporation issued 2,000 shares of $50 par value preferred stock for $143,500 cash.
DATEGENERAL JOURNALDEBITCREDIT
1

You are the manager of the packaging department in a cookie factory. (obviously, the packaging employees cannot eat the cookies that are transferred in during the period.) after your employees insert cookies into colorful packages (step 1) for display on store shelves, the packages of cookies are then boxed using cardboard cartons (step 2) for shipment to stores. each unit of product is represented by a carton of packaged cookies. the packaging department began the period with 1,000 units of cookies. during the period, 5,000 units of cookies were transferred in from the baking department and 5,500 units of cookies were transferred out to the finished goods department. the number of units of cookies in the ending inventory of the packaging department equals: