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, estimatedto 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, estimatedto 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 listJournal entry worksheet<A B C DRecord the issue of 4,000 shares of $5 par value common stock for $35,000cash.Note: Enter debits before credits.

A journal entry is a record of a transaction that is entered into an accounting system. It includes…

Answered: Following are the issuances of stock…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculating the Number of Shares Issued Chester Inc. issued shares of its $3.85 par value common stock for $16.50 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital-Common Stock account for $1,062,600. Required: How many shares were issued? shares
Sage Corporation issued 392 shares of $10 par value common stock and 128 shares of $50 par value preferred stock for a lump sum of $17,424. The common stock has a market price of $20 per share, and the preferred stock has a market price of $90 per share.Prepare the journal entry to record the issuance.
Subject :- Accounting
Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a par value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for:
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hester Inc. issued shares of its $6.60 par value common stock for $17.00 per share. In recording the issuance of the stock, Chester credited the Additional Paid-In Capital—Common Stock account for $1,060,800. Required: How many shares were issued?fill in the blank 1 shares
A corporation issued 7,000 shares of $10 par value common stock for $84, 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 $21,500. The stock has a $1 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 $21,500. The stock has no stated value. A corporation issued 1, 750 shares of $25 par value preferred stock for $65, 250 cash.
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Following are the issuances of stock transactions. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has a $2 per share stated value. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. A corporation issued 750 shares of $25 par value preferred stock for $52,250 cash. Prepare journal entries to record each of the following four separate issuances of stock.

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