Jake Corporation issued 1,000 shares of stock Instructions Prepare the entry for the issuance under the following assumptions (a) The stock had a par value of $5 per share and was issued for a total of $52,000 (b) The stock had a stated value of $5 per share and was issued for a total of $52,000 (c...

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Jake Corporation issued 1,000 shares of stock. Instructions Prepare the entry for the issuance under the following

Question:

Jake issued 1,000 shares of stock.
Instructions
Prepare the entry for the issuance under the following assumptions.
(a) The stock had a of $5 per share and was issued for a total of $52,000.
(b) The stock had a stated value of $5 per share and was issued for a total of $52,000.
(c) The stock had no par or stated value and was issued for a total of $52,000.
(d) The stock had a of $5 per share and was issued to attorneys for services during incorporation valued at $52,000.
(e) The stock had a of $5 per share and was issued for land worth $52,000.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...