Record the issue of 7,000 shares of $10 par value common stock for $84,000 cash Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000. The stock has a $2 per share stated value Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000. The stock has no stated value. Record the issue of 1,750 shares of $100 par value preferred stock for $232,000 cash. Worksheet Inputs:

• Building
• Cash
• Common dividend payable
• Common stock dividend distributable
• Common stock, $10 par value
• Common stock, $2 par value
• Common stock, $2 stated value
• Common stock, no-par value
• Contributed capital, treasury stock
• Income summary
• Inventory
• Land
• Machinery
• Note payable
• Organization expenses
• Paid-in capital in excess of par value, Common stock
• Paid-in capital in excess of par value, preferred stock
• Paid-in capital in excess of stated value, common stock
• Preferred stock, $0.50 par value
• Preferred stock, $1 stated value
• Preferred stock, $1 stated value
• Preferred stock, $10 par value
• Preferred stock, $100 par value
• Preferred stock, $5 par value
• Preferred stock, no-par value

Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 7,000 shares of $10 par value common stock for $84,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000. The stock has a $2 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 $57,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $100 par value preferred stock for $232,000 cash. View transaction list Journal entry worksheet