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Prepare the entry for the issuance

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Question - Ayayai Corporation issued 1,500 shares of stock.

Prepare the entry for the issuance under the following assumptions.

(a) The stock had a par value of $4 per share and was issued for a total of $40,000.

(b) The stock had a stated value of $4 per share and was issued for a total of $40,000.

(c) The stock had no par or stated value and was issued for a total of $40,000.

(d) The stock had a par value of $4 per share and was issued to attorneys for services during incorporation valued at $40,000.

(e) The stock had a par value of $4 per share and was issued for land worth $40,000.

Reference no: EM132587457

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