Share Issuances for Cash Chase, Inc , issued 10,000 shares of $20 par value preferred stock at $50 per share and 8,000 shares of no par value common stock at $20 per share The common stock has no stated value All issuances were for cash a Prepare the journal entries to record the share issuances b Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of $10 per share c Prepare the journal entry for the issuance of the common stock assuming that it had a par value of $2 per share General Journal Ref Description Debit Credit a AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Preferred stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Issued shares of preferred stock AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Issued shares of no par value common stock b AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Common stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Issued shares of no par value common stock, stated value c AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Common stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value Common stockPaid in capital in excess of par value Preferred stockPaid in capital in excess of stated value Common stockPreferred stock Answer Answer Issued shares of common stock

Question

Share Issuances for Cash Chase, Inc , issued 10,000 shares of $20 par value preferred stock at $50 per share and 8,000 shares of no par value common stock at $20 per share  The common stock has no stated value  All issuances were for cash  a  Prepare the journal entries to record the share issuances  b  Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of $10 per share  c  Prepare the journal entry for the issuance of the common stock assuming that it had a par value of $2 per share  General Journal Ref  Description Debit Credit a  AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Preferred stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Issued shares of preferred stock  AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Issued shares of no par value common stock  b  AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Common stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Issued shares of no par value common stock, stated value  c  AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Common stock Answer Answer AnswerCashCommon stockPaid in capital in excess of par value   Common stockPaid in capital in excess of par value   Preferred stockPaid in capital in excess of stated value   Common stockPreferred stock Answer Answer Issued shares of common stock

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Question

Share Issuances for Cash Chase, Inc., issued 10,000 shares of $20 par value preferred stock at $50 per share and 8,000 shares of no-par value

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General Journal
Ref.	Description	Debit	Credit
a.	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Preferred stock	Answer	Answer
	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Issued shares of preferred stock.
	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Issued shares of no-par value common stock.
b.	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Common stock	Answer	Answer
	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Issued shares of no-par value common stock, stated value.
c.	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Common stock	Answer	Answer
	AnswerCashCommon stockPaid-in-capital in excess of par value - Common stockPaid-in-capital in excess of par value - Preferred stockPaid-in-capital in excess of stated value - Common stockPreferred stock	Answer	Answer
	Issued shares of common stock.