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I am not sure what else I am missing? Need help please 2 Prepare journal entries to record the following four separate issuances of stock.
I am not sure what else I am missing? Need help please
2 Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 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 1.42 $40,000. 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 $40,000. The stock has no stated value 4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash. Answer is not complete. No General Journal Debit 35,000 Common stock, $5 par value Paid-in capital in excess of par value, Common stock 15,000 Organization expenses 40 Common stock, $1 stated value 38 Organization expenses 40 Common stock, no-par value 40 Cash 60 Preferred stock, $50 par value Paid-in capital in excess of par value, preferred stock S0 10Step by Step Solution
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