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prac 3

Chechny Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below) Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $20 par value common stock for $144.000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has a $1 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $154.000 cash Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock Required information Journal entry worksheet Record the issue of 6,000 shares of $20 par value common stock for $144,000 cash. Note: Enter debits before credits General Journal Transaction 1 Debit Credit Record entry Clear entry View general journal A C D Record the issue of 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has a $1 per share stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general Journal Journal entry worksheet A B D > Record the issue of 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has no stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal Journal entry worksheet

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