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there are 4 questions Required information Use the following information for Exercises 4-5 below. (Static) [The following information applies to the questions displayed below.) Following
there are 4 questions
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 1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash. 2. 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. 3. 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. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash. Exercise 11-4 (Static) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet 22.101 Journal entry worksheet A C D Record the issue of 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. Note: Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general Journal Saved hapter 11 Homework - Part 10 1 Required information Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet A B D > es Record the issue of 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. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general Journal Journal entry worksheet Step by Step Solution
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