Business, 10.03.2020 04:39 noemir42

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.
(2) A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,500. The stock has a $1 per share stated value.
(3) A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,500. The stock has no stated value.
(4) A corporation issued 2,000 shares of $100 par value preferred stock for $242,500 cash.

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

(1) A...

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