Question
Need answers for the following below, please :) Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 3,000
Need answers for the following below, please :)
Prepare journal entries to record the following four separate issuances of stock. |
1. | A corporation issued 3,000 shares of $20 par value common stock for $72,000 cash. |
2. | A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,500. The stock has a $3 per share stated value. |
3. | A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,500. The stock has no stated value. |
4. | A corporation issued 750 shares of $75 par value preferred stock for $98,750 cash. |
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