Ch 11: Assignment i Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It do 4 1. A corporation issued 2,000 shares of $20 par value common stock for $48,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $49,000. The stock has a $5 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $49,000. The stock has no stated value. 4. A corporation issued 500 shares of $100 par value preferred stock for $99,000 cash. 3 points Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. X Answer is not complete. No Transaction Debit Credit General Journal Cash Common stock, $20 par value Paid-in capital in excess of par value, Common stock B 2 Organization expenses Common stock, $5 stated value Paid-in capital in excess of stated value, common stock 3 Organization expenses Common stock, no-par value D 4 Cash Preferred stock, $100 par value Paid-in capital in excess of par value, preferred stock