Solution-Prepare entries to record separate issuances of

Prepare entries to record separate issuances of stock

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Reference no: EM132524055

Question - Prepare journal entries to record each of the following four separate issuances of stock.

1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash.

2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $36,500. The stock has a $1 per share stated value.

3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $36,500. The stock has no stated value.

4. A corporation issued 1,500 shares of $75 par value preferred stock for $149,000 cash.

Reference no: EM132524055

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Prepare entries to record separate issuances of stock

Reference no: EM132524055

Reference no: EM132524055

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