1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $32,000. The stock has a $1 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $32,000. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $144,500 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 epare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet < A B с Transaction 1 Record the issue of 9,000 shares of $10 par value common stock for $108,000 cash. Note: Enter debits before credits. D General Journal Debit Credit >
1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $32,000. The stock has a $1 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $32,000. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $144,500 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 epare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet < A B с Transaction 1 Record the issue of 9,000 shares of $10 par value common stock for $108,000 cash. Note: Enter debits before credits. D General Journal Debit Credit >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash.
2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for
their efforts, estimated to be worth $32,000. The stock has a $1 per share stated value.
3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for
their efforts, estimated to be worth $32,000. The stock has no stated value.
4. A corporation issued 2,250 shares of $50 par value preferred stock for $144,500 cash.
Exercise 11-4 (Algo) Recording stock issuances LO P1
Prepare journal entries to record each of the following four separate issuances of stock.
View transaction list
Journal entry worksheet
<
A
в с
Record the issue of 9,000 shares of $10 par value common stock for $108,000
cash.
Note: Enter debits before credits.
Transaction
1
D
General Journal
Debit Credit
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