Business, 19.07.2020 01:01 donavery24
Prepare journal entries to record each of the following four separate issuances of stock.
a. A corporation issued 4,000 shares of $10 par value common stock for $48,000 cash.
b. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000.
c. The stock has a $3 per share stated value. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000.
d. The stock has no stated value. A corporation issued 1,000 shares of $50 par value preferred stock for $107,000 cash.
Answers: 3
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Prepare journal entries to record each of the following four separate issuances of stock.
a. A corp...
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