60.1K

Verified Solution

Link Copied!

Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2 A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimeted to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. 4. A corporation issued 2,500 shares of $25 par value preferred stock for $83,000 cesh. View transaction list Journal entry worksheet Record the issue of 10,000 shares of $10 par value common stock for $120,000 cash. Note: Enter debits before credits. Credit Debit General Journal Transaction View peneral joural Clear entry Record entry Prepare journal entries to record each of the following four separate isuances of stock. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2 A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. 4. A corporation issued 2,500 shares of $25 par value preferred stock for $83,000 cash. View transaction list Journal entry worksheet B Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value. Note: Enter debits before credits. Credit Debit General Journal Transaction 2. View general joumal Clear entry Record entry Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2 A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. 4. A corporation issued 2,500 shares of $25 par value preferred stock for $83,000 cash. View transaction list Journal entry worksheet Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. Note: Enter debits before credits. Credit Debit General Journal Transaction View general joumal Clear entry Record entry Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2 A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has a $0 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,500. The stock has no stated value. 4. A corporation issued 2,500 shares of $25 par value preferred stock for $83,000 cash. View transaction list Journal entry worksheet Record the issue of 2,500 shares of $25 par value preferred stock for $83,000 cash. Notei Enter debits before credits. Debit Credit General Journal Transaction View general journal Clear entry Record entry

Answer & Explanation Solved by verified expert

See Answer