Chapter l3 Accounting for Corporations Exercise 13-3 Recording stock issuanees P1 Prepare journal entries to record the following four separate issuanees of stock. 1. 2. 3. 4. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $30,000. The stock has no stated value. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $30,000. The stock has a $1 per share stated value. A corporation issued 4,000 shares of $10 par value common stock for $70,000 cash. A corporation issued 1,000 shares of $100 par value preferred stock for $120,000 cash