! Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has a $0 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has no stated value. 4. A corporation issued 2,250 shares of $75 par value preferred stock for $190,750 cash. Prepare journal entries to record each of the following four separate issuances of stock. Answer is complete but not entirely correct. No A Transaction 1 Cash Common stock, $10 par value General Journal Debit Credit 108,000 90,000 Paid-in capital in excess of par value, Common stock 18,000 B 2 Organization expenses Common stock, $0 stated value Paid-in capital in excess of stated value, common stock 3 Organization expenses Common stock, no-par value D Cash Preferred stock, $75 par value Paid-in capital in excess of par value, preferred stock 22,000 22,000 38,500 108,000 4,500 190,750 168,750 22,000