Required information [ The following information applies to the questions displayed below. ] Following are the issuances
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Required information
The following information applies to the questions displayed below.
Following are the issuances of stock transactions.
A corporation issued shares of $ par value common stock for $ cash.
A corporation issued shares of nopar common stock to its promoters in exchange for their efforts, estimated to be worth $ The stock has a $ per share stated value.
A corporation issued shares of nopar common stock to its promoters in exchange for their efforts, estimated to be worth $ The stock has no stated value.
A corporation issued shares of $ par value preferred stock for $ cash.
Prepare journal entries to record each of the following four separate issuances of stock.
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