Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 8,000 shares of $20 par value common stock for $192,000 cash.
2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,000. The stock has a $1 per share stated value.
3. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,000. The stock has no stated value.
4. A corporation issued 2,000 shares of $75 par value preferred stock for $183,000 cash.

1.

DR Cash$192,000  

     CR Common stock.  $160,000

     CR Paid-in capital in excess of par value - Common stock  $32,000

Working

Common Stock = $20 * 8,000

= $160,000

Paid-in capital in excess of par value - Common stock = 192,000 - 160,000

= $32,000

2

DR Organization expenses$33,000  

       CR Common stock,  $4,000

     CR Paid-in capital in excess of stated value - common stock  $29,000

Working

Common Stock = 1 * 4,000

= $4,000

Paid-in capital in excess of stated value, common stock = 33,000 - 4,000

= $29,000

3

DR Organization expenses$33,000  

       CR Common stock  $33,000

4

DR Cash$183,000  

        CR Preferred stock  $150,000

        CR Paid-in capital in excess of par value - preferred stock  $33,000

Working

Preferred Stock = 75 * 2,000

= $150,000

Paid-in capital in excess of par value - preferred stock = 183,000 - 150,000

= $33,000

these are the four factors that influence enterpreneurship development

1. economic development

2. culture

3.technological development

4. education