Prepare journal entries to record the following four separate issuances of stock.
a. a corpora...
Business, 06.12.2019 01:31 sirinapadeangel
Prepare journal entries to record the following four separate issuances of stock.
a. a corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
b. a corporation issued 2,000 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 2,000 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 1,000 shares of $50 par value preferred stock for $60,000 cash.
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