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please do all 4 parts, thank you! Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions
please do all 4 parts, thank you!
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 7,000 shares of $20 par value common stock for $168,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for thinir efforts, estimated to be worth $47,500. The stock has a $1 per share stated value. 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has no stated value. 4. A corporation issued 1,750 shares of $75 par value preferred stock for $178,750 cash. Journal entry worksheet Record the issue of 7,000 shares of $20 par value common stock for $168,000 cash. Note: Enter debits before credits. Required information Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has a $1 per share stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has no stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 1,750 shares of $75 par value preferred stock for $178,750 cash. Note: Enter debits before credits Step by Step Solution
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