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

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 &t of 2 View transaction list Journal entry worksheet