Menu CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 3 Nos Marked out of 2.00P Rag question Stockholders Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent. $50 par value preferred stock and 200.000 shares of $5 par value common stock. During April, the following transactions affecting stockholders equity occurred: Apr. 1 Issued 83,000 shares of common stock at $15 cash per share 3 Issued 5,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. The services were valued at $34,000 8 Issued 4,000 shafes of common stock in exchange for equipment with a fair market value of $51,000 20 Issued 9,000 shares of preferred stock for cash at $55 per share. Required aPrepare journal entries to record the above transactions. General Journal Debit Credit Apr.01 Paid-in-Capiqal in Excess of Par Value Common Stock Issued shares of comenon stock Apr 03 Type here to search 40