Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $164,000 cash. View transaction list Journal entry worksheet A C D Record the issue of 6,000 shares of $20 par value common stock for $144,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit

Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $164,000 cash. View transaction list Journal entry worksheet A C D Record the issue of 6,000 shares of $20 par value common stock for $144,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit

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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