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I need in 2 hrs Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 10,000 shares of $10
I need in 2 hrs
Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $39,000. The stock has a $1 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $39,000. The stock has no stated value. 4. A corporation issued 2,500 shares of $25 par value preferred stock for $101,500 cash. Jouphal ehtry Worksheet 2 3 4 Record the issue of 10,000 shares of $10 par value common stock for $120,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Juullial erili Y WUI KSIieelStep by Step Solution
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