Question
[The following information applies to the questions displayed below.] Following are the issuances of stock transactions. A corporation issued 9,000 shares of $20 par value
[The following information applies to the questions displayed below.] Following are the issuances of stock transactions.
A corporation issued 9,000 shares of $20 par value common stock for $216,000 cash.
A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value.
A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value.
A corporation issued 2,250 shares of $50 par value preferred stock for $133,000 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
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