Business, 05.05.2021 02:50 totallybriii
Prepare journal entries to record each of the following four separate issuances of stock.
a. A corporation issued 8,000 shares of $5 par value common stock for $48,000 cash.
b. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
c. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value.
d. A corporation issued 2,000 shares of $75 par value preferred stock for $190,000 cash.
Answers: 3
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Prepare journal entries to record each of the following four separate issuances of stock.
a. A cor...
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