1 Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 35 points 1. A corporation issued 4,000 shares of $20 par value common stock for $96,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has a $2 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $98,000 cash. eBook Hint View transaction list Ask Journal entry worksheet Print Record the issue of 4,000 shares of $20 par value common stock for $96,000 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry View general journal Clear entry View transaction list X > B Record the issue of 2,000 shares of no- par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has a $2 per share stated value. C Record the issue of 2,000 shares of no- par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has no stated value. it Credit D Record the issue of 1,000 shares of $50 par value preferred stock for $98,000 cash. Note : = journal entry has been entered Record entry View general journal Clear entry