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a connect Of the following statements, which 1. Ownership rights cannot be easily transferred. are true for the corporate form of organization? 2. Owners have unlimited liability for corporate debts. QUICK STUDY 3. Capital is more easily accumulated than with most other forms of organization. 4. Corporate income that is distributed to shareholders is usually taxed twice. OS 13-1 Characteristics of 5. It is a separate legal entity C1 6. It has a limited life. 127.Owners are not agents of the coporation. Prepaare the journal entry to record Zende Company's issuance of 75,000 shares of S5 par value common stock assuming the shares sell for: a. S5 cash per share. b. S6 cash per share. OS 13-2 Issuance of common stock P1 as- OS 13-3 Prepare the journal entry to record Jevonte Company's issuance of 36,000 shares of its.common stock as-Q Issuance of par and suming the shares have a: a. $2 par value and sell for $18 cash per share. b. $2 stated value and sell for $18 cash per share stated value common stock P Prepare the journal entry to record Autumn Company's issuance of 63,000 shares of no-par value common as 13-4 stock assuming the shares: a. Sell for $29 cash per share. b. Are exchanged for land valued at $1,827,000. Issuance of no-par common stock P1

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