Business, 16.04.2020 20:09 jennsou

Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 10,000 shares of $20 par value common stock for $240,000 cash. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $1 per share stated value. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has no stated value. A corporation issued 2,500 shares of $50 par value preferred stock for $160,500 cash.

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

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