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Please help to answer it and Explain Exercise 11-3 Recording stock issuances LO P1 Prepare journal entries to record the following four separate issuances of
Please help to answer it and Explain
Exercise 11-3 Recording stock issuances LO P1 Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash. 2 A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has a $5 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has no stated value 4. A corporation issued 500 shares of $50 par value preferred stock for $73,000 cash. View transaction list Journal entry worksheet 2 Record the issue of 2,000 shares of $10 par value common stock for $24,000Step by Step Solution
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