What is a stock subscription? How does a corporation report the accounts Subscriptions Receivable and Preferred Stock

Question:

What is a stock subscription? How does a report the accounts Subscriptions Receivable and Preferred Stock Subscribed on its balance sheet? Why?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...