Exercise 11-4 Recording stock issuances LO P1 Prepare Journal entries to record each of the following four separate issuances of stock. 1. A corporation Issued 3,000 shares of $30 par value common stock for $108,000 cash. 2. A corporation Issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,000. The stock has a $3 per share stated value. 3. A corporation issued 1,500 shares of no-par common stock to its promotors in exchange for their efforts, estimated to be worth $42,000. The stock has no stated value. 4. A corporation issued 750 shares of $100 par value preferred stock for $117,000 cash. View transaction lit View Journal entry worksheet LE No Transaction Credit es 1 General Journal Cash Common stock, 530 par value Paid in capital in excess of par value, Common stock Debit 1,008,000 90,000 18,000 B 2 No Transaction Recorded