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Prepare the entry for the issuance under the assumptions

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Question 1: Pronghorn Corporation issued 4,250 shares of stock. Prepare the entry for the issuance under the following assumptions.

  1. The stock had a par value of $10 per share and was issued for a total of $47,500.
  2. The stock had a stated value of $10 per share and was issued for a total of $47,500.
  3. The stock had no par OR stated value and was issued for a total of $47,500.
  4. The stock had a par value of $10 per share and was issued to attorneys for services during incorporation valued at $47,500.
  5. The Stock had a par value of $10 per share and was issued for land worth $47,500.

Reference no: EM132496283

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