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Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below] Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $30 par value common stock for $324,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 4.500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $133,000 cash. Accounts payable Accounts receivable Accumulated depreciation-Building Accumulated depreciation-Equipment Building 1. Cash 2. Common dividend payable Common stock dividend distributable Common Stock, $0 stated value Common Stock, $1 stated value 1. Common Stock, \$30 Par Value Common stock, \$31 par value Common Stock, No-Par Value Cost of goods sold Depreciation expense-Building 4. 1. Equipment 2. Income summary Interest expense 2. Interest revenue 3. Inventory 3. 4. 4. Urganization Expenses Paid-In Capital in Excess of Par Value, Common Stock Paid-In Capital in Excess of Par Value, Preferred Stock Paid-In Capital in Excess of Stated Value, Common Stock Paid-in capital, treasury stock Preferred stock, $100 par value Preferred Stock, $50 Par Value Rent expense Retained earnings Salaries expense Sales Sales discounts Sales discounts Sales returns and allowances Supplies Supplies expense Treasury stock Required information Use the following information for Exereises 4.5 below. (Algo) The following iniormatian apples to the questions displayed bolow/ Following are the issuances of stock transoctions 1. A comoration issued 9,000 shares of $30 par value common stock for $324,000cash. 2. A corporation issued 4,500 stares of no-por common stock to its promoters in exchange for their efforts, ostimated to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 4,500 shates of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated yalue. 4. A corporation issued 2,250 shsres of $50 par value preferred stock for $133,000 cash. Exercise 11-5 (Algo) Analyzing impact of stock issuance transactions LOP1 Analyze each transaction from issuances of stock by showing is effect on the accounting equation - specifically, idemify the acceunts and amounts (including + of for each transaction. Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $30 par value common stock for $324,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $133,000 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock
