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 4,000 shares of $5 par value common stock for $24,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has no stated value 4. A corporation issued 1,000 shares of $50 par value preferred stock for $108,000 cash View transaction list Journal entry worksheet B C D A Record the issue of 4,000 shares of $5 par value common stock for $24,000 cash. Debit Credit Note: tnter debits before credits Transaction General Journal Cash Common stock, 55 par value Paid in capital in excess of par value. Common stock 24,000 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 4,000 shares of $5 par value common stock for $24,000 cash. 2. A corporation issued 2.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has no stated value. 4. A corporation Issued 1,000 shares of $50 par value preferred stock for $108,000 cash. View transaction list Journal entry worksheet B Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has a 53 per share stated value Note Enter Gebits before credits General Journal Debit Credit Transaction 2 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 4,000 shares of $5 par value common stock for $24,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $108,000 cash. View transaction list Journal entry worksheet Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has no stated value Note: Enter Gebits before credite Transaction General Journal Debit Credit 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 4,000 shares of $5 par value common stock for $24,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has a $3 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has no stated value 4. A corporation Issued 1,000 shares of $50 par value preferred stock for $108,000 cash. View transaction list Journal entry worksheet D Record the issue of 1,000 shares of $50 par value preferred stock for $108,000 cash NoteEnter debts before credits Transaction General Journal Debit Credit
