Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $5 par value 2. A corporation issued 2,000 shares of no-par comm to be worth $40,000. The stock has a $1 per share 3. A corporation issued 2,000 shares of no-par comm to be worth $40,000. The stock has no stated value 4. A corporation issued 1,000 shares of $50 par value
Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $5 par value 2. A corporation issued 2,000 shares of no-par comm to be worth $40,000. The stock has a $1 per share 3. A corporation issued 2,000 shares of no-par comm to be worth $40,000. The stock has no stated value 4. A corporation issued 1,000 shares of $50 par value
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
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 $60,000 cash.
are journal entries to record each of the following four separate issuances of stock.
ew transaction list
Journal entry worksheet
<
A B C D
Record the issue of 4,000 shares of $5 par value common stock for $35,000
cash.
Note: Enter debits before credits.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F31805107-2f58-45b8-a559-635d8f4c84ea%2F32e55eb8-bcf1-480c-ad55-749dfe08de33%2Fbnar4bf_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
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 $60,000 cash.
are journal entries to record each of the following four separate issuances of stock.
ew transaction list
Journal entry worksheet
<
A B C D
Record the issue of 4,000 shares of $5 par value common stock for $35,000
cash.
Note: Enter debits before credits.
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