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joirnal entry 1-4 Required information [The following information applies to the questions...

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Accounting

joirnal entry 1-4 image
Required information [The following information applies to the questions displayed below] Following are the issuances of stock transactions: 1. A corporation issued 5,000 shares of $10 par value common stock for $60,000 cash. 2. A corporation issued 2.500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has a $2 per share stated value. 3. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has no stated value. 4. A corporation issued 1,250 shares of $50 par value preferred stock for $103,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet Record the issue of 5,000 shares of $10 par value common stock for $60,000 cash. Note: Enter debits before credits

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