question 1.

Prepare journal entries to record each of 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 $48,500. 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 $48,500. The stock has no stated value.
4. A corporation issued 500 shares of $50 par value preferred stock for $73,500 cash.

A) Record the issue of 2,000 shares of $10 par value common stock for $24,000 cash.

B)Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,500. The stock has a $5 per share stated value\

c)Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,500. The stock has no stated value.

D)Record the issue of 500 shares of $50 par value preferred stock for $73,500 cash.

Question 2 .

York's outstanding stock consists of 60,000 shares ofnoncumulative8.0% preferred stock with a $5 par value and also 280,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.

Year 1 total cash dividends$13,200Year 2 total cash dividends22,000Year 3 total cash dividends240,000Year 4 total cash dividends390,000

-> Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.(Round your "Dividend per Preferred Share" answer to 3 decimal places.)

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Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share\" answer to 3 decimal places.) Annual Preferred Dividend: 13,200 Year 2 22,000 Year 3 240,000 Year 4 390,000 Total: $ 665,200