Chapter 11 Homework i 5aver Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 9,000 shares of $20 par value common stock for $216,000 cash. 2. A corporation issued 4,500 shares of no par common stock to its promoters in exchange for their efforts, estimated to be worth 3.33 coints $56,500, The stock has $1 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $56,50O. The stock has no stated valuc 4. A corporation issued 2,250 shares of $50 par value preferred stock for $169,000 cash Answer is not complete. No General Journal Debit Credit Organization expenses 216,000 216.000 Common stock, no-par value 56,500 Orgarization experise5 4.500 52.000 Common stock, $1 par value Contributed capital, treasury s:ock 56,500 Cash Common stock, $20 par value 45,000 11,500 uted capital, treasury stock 169,000 Caah 112,500 56,500 Preterred stock, 550 par value Contributed capital, treasury stock