Required information

Use the following information for Exercises $4-5$ below. $($Static$)$

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

Following are the issuances of stock transactions.

A corporation issued $4,000$ shares of $$5$ par value common stock for $$35,000$ cash.

A corporation issued $2,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$40,000.$ The stock has a $$1$ per share stated value.

A corporation issued $2,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$40,000.$ The stock has no stated value.

A corporation issued $1,000$ shares of $$50$ par value preferred stock for $$60,000$ cash.

Exercise $11-4($Static$)$ Recording stock issuances LO P$1$

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 $4,000$ shares of $$5$ par value common stock for $$35,000$ cash.

Note: Enter debits before credits.Required information

Use the following information for Exercises $4-5$ below. $($Static$)$

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

Following are the issuances of stock transactions.

A corporation issued $4,000$ shares of $$5$ par value common stock for $$35,000$ cash.

A corporation issued $2,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$40,000.$ The stock has a $$1$ per share stated value.

A corporation issued $2,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$40,000.$ The stock has no stated value.

A corporation issued $1,000$ shares of $$50$ par value preferred stock for $$60,000$ cash.

Exercise $11-4($Static$)$ Recording stock issuances LO P$1$

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 $4,000$ shares of $$5$ par value common stock for $$35,000$ cash.

Note: Enter debits before credits.