Business, 06.05.2021 03:30 19thomasar

Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 10,000 shares of $20 par value common stock for $240,000 cash.
A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $59,000. The stock has a $1 per share stated value.
A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $59,000. The stock has no stated value.
A corporation issued 2,500 shares of $75 par value preferred stock for $246,500 cash.

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

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