Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $20 par value common stock for $216,000 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 $49,500. 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 $49,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $162,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet A B C D Record the issue of 9,000 shares of $20 par value common stock for $216,000 cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal >
Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $20 par value common stock for $216,000 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 $49,500. 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 $49,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $162,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet A B C D Record the issue of 9,000 shares of $20 par value common stock for $216,000 cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer must be correct or i will give down vote
![Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 9,000 shares of $20 par value common stock for $216,000 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 $49,500. 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 $49,500. The stock has no stated value.
4. A corporation issued 2,250 shares of $50 par value preferred stock for $162,000 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
View transaction list
Journal entry worksheet
A
B C D
Record the issue of 9,000 shares of $20 par value common stock for $216,000
cash.
Note: Enter debits before credits.
Transaction
1
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
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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 9,000 shares of $20 par value common stock for $216,000 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 $49,500. 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 $49,500. The stock has no stated value.
4. A corporation issued 2,250 shares of $50 par value preferred stock for $162,000 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
View transaction list
Journal entry worksheet
A
B C D
Record the issue of 9,000 shares of $20 par value common stock for $216,000
cash.
Note: Enter debits before credits.
Transaction
1
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
>
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