Reyuncun 1. Record issuance of the stock if the stock: a. is true no-par stock. b. has stated value of $3 per share. 2. Which type of stock results in more total paid-in capital? 2 E13-23 Journalizing issuance of stock and preparing the stockholders' equity section of the balance sheet The charter for ASAP-TV, Inc. authorizes the company to issue 100,000 shares of $5, no-par preferred stock and 500,000 shares of common stock with $1 par value. Dur. ing its start-up phase, ASAP-TV completed the following transactions: Sep. 6 12 14 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500. Issued 400 shares of preferred stock for cash of $23,000. Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. T Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of the ASAP TV balance sheet at September 30, 2018, assuming ASAP-TV, Inc. had net income of $38,000 for the month. et 02 e 9 F10 2. Which type of stock results in more total paid-in capital? E13-23 Journalizing issuance of stock and preparing the stockholders' equity section of the balance sheet The charter for ASAP-TV, Inc. authorizes the company to issue 100,000 shares of $5, no-par preferred stock and 500,000 shares of common stock with $1 par value. Dur- ing its start-up phase, ASAP-TV completed the following transactions: Sep. 6 12 14 Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $16,500 Issued 400 shares of preferred stock for cash of $23,000. Issued 1,500 shares of common stock in exchange for land with a market value of $17,000. T Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of the ASAP-TV balance sheet at September 30, 2018, assuming ASAP-TV, Inc. had net income of $38,000 for the month. S F6F7F8 F9 F10 F11 F12