Part 1 of 2 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 $58,000. 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 $58,000. The stock has no stated value. 4. A corporation issued 2,000 shares of $25 par value preferred stock for $108,000 cash. pints Prepare journal entries to record each of the following four separate issuances of stock Answer is complete but not entirely correct. AC No A Transaction 1 Cash B 2 General Journal Common stock dividend distributable Paid-in capital in excess of par value, Common stock Organization expenses Common stock, no-par value Paid-in capital in excess of stated value, common stock C . Organization expenses Common stock, no-par value D 4 Cash 000 000 00 Debit Credit 96,000 80,000 O 16,000 O $8,000 4,000 55,000 58.000 O 50.000 O 100,000 Prev 1 2 of 10 Next > 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 $58,000. The stock has a $1 per share stated value. of 2 3. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $58,000. The stock has no stated value. 0 4. A corporation issued 2,000 shares of $25 par value preferred stock for $108,000 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including +or-) for each transaction. int 1 1 ences 2 2 2 3 3 4 4 Assets Liabilities 1000 < Prev 2 of 10 Next > + . . wwwww Exquity