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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
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 $22,500. The stock has a $1 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 $22,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $100 par value preferred stock for $247,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet A B D > Record the issue of 9,000 shares of $10 par value common stock for $108,000 cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Journal entry worksheet Record the issue of 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,500. The stock has a $1 per share stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal Journal entry worksheet Record the issue of 2,250 shares of $100 par value preferred stock for $247,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 Record entry Clear entry View general journal
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