complete 1-5 please and leave detail explantation if able to explain, thanks!
\#2. (Recording the Issuance of Cormmon and Preferred Stock) - National Gas Corporation was organized on June 1,2020 . It is authonized to issue 100,000 shares of 5%,$100 par value preferred stock, and 1,750,000 shares of no par common stock with a stated value of $1 per share. The following rtock transactions were completed during the first year. - June 15 - Issued 165,000 shares of common stock for cash at $5 per thare. - June 30-Isrued 25,000 sharen of preferred stock for cash at $102 per thare. - Aug 15 - Issued 20,000 shares of common stock for a factory buiding. The asking price of the factory building was $150,000; the appraised value of the factory building was $140,000. - Sept. 1 - Issued 200,000 shares of common stock for cash at $7 per ihare. - Oct 1 - Issued 5,000 shares of common stock to attomeys in payment of their bill of $40,000 for services rendered in helping the company organize. - Oet. 15 - Issued 25,000 shares of common stock for cash at $8.50 per share. - Nov. 1 - Issued 6,000 shares of preferred atock for cash at $104 per share. Instructions: Prepare the joumal entries to record the above transactions. \#1. (Recording the Issuances of Common Stock) - During its first year of operations, XYZ Corporation had the following transactions pertaining to its common stock: Apr. 26 - Issued 15,000 thares for cath at $4.50 per share, May 11 - Issued 10,000 shares to attomeys in parment of a bill for $48,000 for tervices rendered in helping the company to incorponte. - Aug. 1 - Issued 20,000 shares for cash at $5 per thare. - Nov. 1-Issued 10,000 shares for cash at $7 per share. INSTRUCTIONS a. Prepare the joumal entries for these transactions, assuming that the common stock has a Dar value of \$1 ner sham. with a stated value of $3 per share. \#3. (Lump-Sum Sales of Stock with Preferred Stock) - Black Diamond Inc, insues 2,500 thares of $1 par value common stock and 1,000 shares of $50 par value preferred stock for a lump sum of $275,000. Instructions (a) Prepare the journal entry for the issuance when the market value of the common shares is $95 each and the market value of the preferred is $60 earh (b) Prepare the journal entry for the issuance when only the market value of the common stock is known and it is $90 per share. \#4. (Stock Issuances \& Repurchase) - Overland Corporation is authorized to issue 250,000 shares of $1 par value common stock. During 2020, Overland Corpontion took part in the following trantactions: a. Issued 55,000 shares of stock at $76 per share. b. Issued 10,000 shares of stock for land appraised at $800,000. The stock was actively traded on a national stock exchange at approximately $75 per share on the date of issuance. c. Purchased 6,000 shares of treasury stock at $70 per share. The treasury shares purchased were issued in 2009 at $46 per share. d. Sold half of the 6,000 Treasury stocks ( 3000 Treasury stocks) purchased in (c) at $100 per share. Instructions: \#5. (Declaration and Payment of Dividend) - On February 1, Kristy Corporation declared a cash declared a cash dividend of $2 a share on 70,000 shares payable March 15 to all stockholders. The record date for the dividend is February 24. Instructions: a. Prepare the ioumal entrv to record the declaration of dividends on Fehruarv 1
