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Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $10 par value common stock for $48,000 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 $52,000. The stock has a $3 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 $52,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $100 par value preferred stock for $152,000 cash. View transaction list View journal entry worksheet Debit Credit No A Transaction 1 48,000 General Journal Cash Common stock, $10 par value Paid-in capital in excess of par value. Common stock 40,000 8,000 B 2 52,000 Organization expenses Common stock, $3 stated value 6,000 46,000 3 52,000 Organization expenses Common stock, no-par value 52,000 D 4 152,000 Cash Preferred stock, 5100 par value Paid-in capital in excess of par value, preferred stock 52,000 100,000