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for A B C and D [he following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation
for A B C and D
[he following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 8,000 shares of $10 par value common stock for $96,000 cash. 2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $38,500. The stock has a $1 per share stated value. 3. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $38,500. The stock has no stated value. 4. A corporation issued 2,000 shares of $75 par value preferred stock for $188,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet Record the issue of 8,000 shares of $10 par value common stock for $96,000 cash. Note: Enter debits before credits Step by Step Solution
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