3.1 Issuing Preference Shares for Cash 3.1.1 Issuing Par Value Preference Shares at Par for Cash? 1. What are the major accounts that will be affected by issuing Preference Shares at par value for Cash? 2. Assume that "ABC" Corporation issues 1,000 Preference shares of 1 par value ordinary shares. Prepare the entry to record this transaction. 3.1.2 Issuing Par Value Preference Shares above Par for Cash? 1. What are the major accounts that will be affected by issuing Preference Shares above par value for Cash? 2. Assume that "ABC" Corporation issues 1,000 Preference shares of 1 par value ordinary shares at 6. Prepare the entry to record this transaction. 2 3.1.3 Issuing No Par, No stated Value Preference Shares for Cash? 1. What are the major accounts that will be affected by issuing no par, no stated preference shares for Cash? 2. Assume that "ABC" Corporation issues 1,000 Preference shares at 66. Prepare the entry to record this transaction (the shares have no par or stated values)