Business, 09.05.2020 06:57 Delgadojacky0206

Prepare journal entries to record the following four separate issuances of stock.
A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash.
A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has a $1 per share stated value.
A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has no stated value.
A corporation issued 1,500 shares of $50 par value preferred stock for $116,000 cash.

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Prepare journal entries to record the following four separate issuances of stock.
A corporatio...

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