Homework #4 1Upon formation on May 12, 2015, Big Zero issued 3,000 shares each of $10 par preferred stock and $8 par common stock at par. Prepare the journal entry to record the stock issue. 2. Instead of issuing the stock at par as in Exercise 20, Big Zero issued the preferred and common stock for $12 per share. Prepare the journal entry to record the stock issue. 3. On March 16, 2015, a corporation issued 3,000 shares of no-par common stock for $3 per share and 4,000 shares of no-par preferred stock for $5 per share. Prepare the journal entry to record the transaction. 4. Ole Corp. issued 5,000 shares of no-par common stock for $10 per share on April 1, 2015. The common stock had a stated value of $5 per share. On June 1, 2015, the corporation issued 2,000 shares of the same common stock for $7 per share. Prepare the journal entries to record the stock issues. 5. Upon formation on July 10, 2015, Tortoise Cleaning Corp. issued 2,500 shares of no-par common stock for $6 per share and 6,100 shares of no-par preferred stock for $10 per share. On September 12, 2015, the corporation issued 1,000 more shares of the same common stock for $5 per share. Prepare the journal entries to record these transactions 6. On May 16, 2015, the board of directors authorized a $3 dividend for all common stock outstanding and an $8 dividend for all preferred stock outstanding. The corporation had 5,000 shares of common stock and 3,500 shares of preferred stock. One month later, the corporation determines there are 1,000 shareholders to receive the cash dividends. The dividend is paid on April 30, 2015. Prepare the journal entry required on each of the dates