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 $10 par value common stock for $48,000 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 $26,500. The stock has a $1 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 $26,500. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $76,500 cash. Journal entry worksheet Record the issue of 4,000 shares of $10 par value common stock for $48,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 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 $26,500. The stock has no stated value. Note: Enter debits before credits. General Journal Debit Credit Transaction 3 Record entry Clear entry View general journal Journal entry worksheet Record the issue of 1,000 shares of $50 par value preferred stock for $76,500 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 4 Record entry Clear entry View general journal