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Problem 1: 10 points Prepare journal entries to record the following four separate issuances of...

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Accounting

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Problem 1: 10 points 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 $35,000cash. 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 $60,000cash

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