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Required Information Use the following information for Exercises 4-5 below. (Algo) [The...

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Accounting

Required Information
Use the following information for Exercises 4-5 below. (Algo)
[The following information applles to the questions displayed below.]
Following are the issuances of stock transactions.
A corporation issued 5,000 shares of $10 par value common stock for $60,000 cash.
A corporation issued 2,500 shares of no-par common stock to Its promoters in exchange for thelr efforts, estimated
to be worth $58,000. The stock has a $2 per share stated value.
A corporation issued 2,500 shares of no-par common stock to Its promoters in exchange for thelr efforts, estimated
to be worth $58,000. The stock has no stated value.
A corporation Issued 1,250 shares of $100 par value preferred stock for $183,000 cash.
Exercise 11-4(Algo) Recording stock issuances LO P1
Prepare journal entrles 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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