Separate issuances of stock

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Reference no: EM13745212

Prepare Journal entries to record the following four separate issuances of stock.

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.

Reference no: EM13745212

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