$!$

Required information

$[$The following information applies to the questions displayed below.$]$

Following are the issuances of stock transactions.

A corporation issued $7,000$ shares of $$20$ par value common stock for $$168,000$ cash.

A corporation issued $3,500$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$43,000.$ The stock has a $$1$ per share stated value.

A corporation issued $3,500$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$43,000.$ The stock has no stated value.

A corporation issued $1,750$ shares of $$75$ par value preferred stock for $$174,250$ cash.

Prepare journal entries to record each of the following four separate issuances of stock.

Journal entry worksheet

A

B

C

D

Record the issue of $7,000$ shares of $$20$ par value common stock for $$168,000$ cash. record the issue of $3,500$ shares or no par common stock to its promoters in exchange for their efforts, estimared to be worth $43,000.$ The stock hwe a $$1$ per share stated value.

record the issue of $3,5000$ shares of no par common stock to its promoters in exchange for their efforts, estimated to be worth $43,000.$ the stock has no stated value

record the issue ot $1,750$ shares or $75$ par value preffered stock for $174,250$ cash

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,]]$