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

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Accounting

Required information Use the following information for Exercises 4-5 below. (Algo) Skip to question [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. A corporation issued 7,000 shares of $5 par value common stock for $42,000 cash. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,000. The stock has a $2 per share stated value. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,000. The stock has no stated value. A corporation issued 1,750 shares of $75 par value preferred stock for $186,250 cash

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