1) Stock Issuance Worksheet Prepare the Journal Entries

• ABC corporation issues 10,000 shares of $1 Par value stock for $15,000

• ABC Corporation issues 10,000 shares of $1 Par value stock for $18/share

• ABC Corporation issues 20,000 shares of $1 Par value stock for $20,000

• XYZ, Inc. issues 1000 shares of no-par value stock for $10/share

• MX issues 2000 shares of no-par value stock with a $1 stated value for $10,000

• MX is a new company whose stock is not traded on the stock exchange. They issued 2,000 shares of no-par value stock with a $1 stated value to pay their organizational expenses in the amount of $3000.

• ABC Corporation stock is traded on the NYSE. Its fair market value is $28/share. They issued 1000 shares of $1 par stock for Land that was being sold for $35,000.

• ABC issues 1000 shares of Preferred Stock of $100 par value stock for $150/share