Following are the issuances of stock transactions. 1. A corporation issued 3,000 shares of $30 par...

 

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Following are the issuances of stock transactions. 1. A corporation issued 3,000 shares of $30 par value common stock for $108,000 cash. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $50,000. The stock has a $3 per share stated value. 3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $50,000. The stock has no stated value. 4. A corporation issued 750 shares of $50 par value preferred stock for $87,500 cash. Exercise 13-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. Following are the issuances of stock transactions. 1. A corporation issued 3,000 shares of $30 par value common stock for $108,000 cash. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $50,000. The stock has a $3 per share stated value. 3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $50,000. The stock has no stated value. 4. A corporation issued 750 shares of $50 par value preferred stock for $87,500 cash. Exercise 13-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock.

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