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Required Information

Use the following information for Exercises $4-5$ below. $($Algo$)$

$[$The following information applles to the questions displayed below.$]$

Following are the issuances of stock transactions.

A corporation Issued $8,000$ shares of $$10$ par value common stock for $$96,000$ cash.

A corporation issued $4,000$ shares of no$-$par common stock to its promoters in exchange for thelr efforts, estimated

to be worth $$38,500.$ The stock has a $$1$ per share stated value.

A corporation issued $4,000$ shares of no$-$par common stock to its promoters in exchange for thelr efforts, estimated

to be worth $$38,500.$ The stock has no stated value.

A corporation Issued $2,000$ shares of $$25$ par value preferred stock for $$88,500$ cash.

Exercise $11-4($Algo$)$ Recording stock issuances LO P$1$

Prepare journal entrles to record each of the following four separate issuances of stock.

Journal entry worksheet

A

B

C

D

Record the issue of $8,000$ shares of $$10$ par value common stock for

$$96,000$ cash.

Note: Enter debits before credits.