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Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions. a. Max Inc, issued 10,000 shares of $1 par value common

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Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions. a. Max Inc, issued 10,000 shares of $1 par value common stock for $20 per share on January 1, 2020, b. Max Inc. issued 2,000 shares of no-par common stock for $25 per share on January 1, 2020. The state of incorporation requires a minimum value per share of $2. C. Max Inc. issued 1,000 shares of no-par common stock for $18 per share on January 1, 2020. d. Max Inc. issued 10,000 shares of $1 par value common stock for $18 per share on January 1, 2020, and incurred $2,000 in legal fees related to the stock issuance. e. Max Inc. issued 20,000 shares of common stock ($1 par) in exchange for equipment with a fair value of $356,000. f. Max Inc. issued 6,000 shares of Class A common stock ($1 par) and 8,000 shares of Class B common stock ($2 par) at a price of $160,000. At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share. g. Max Inc. issued 6,000 shares of Class A common stock (51 par) and 8,000 shares of Class B common stock ($2 par) at a price of $170,000. At the time of issuance, the market price of the Class A common stock is $16 per share, and the market price of the Class B common stock is unknown. Date Account Name Dr. Cr. a. Jan. 1. 2020 0 0 Common Stock 0 0 0 0 . . b. Jan 1, 2020 0 0 Common Stock 0 0 0 0 . c. Jan. 1, 2020 0 0 0 0 d. Jan 1, 2020 0 Common Stock 0 0 0 0 0 0 e. Jan. 1, 2020 0 Common Stock 0 0 0 0 f. Jan 1, 2020 0 Common Stock-Class A 0 . 0 o 0 0 Common Stock-Class B 0 0 0 8 Jan. 1, 2020 0 0 Common Stock-Class A 0 0 0 0 Common Stock-Class B 0 O o 0 0

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