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A corporation issued 2,000 shares of $20 par value common stock for $48,000 cash. A...

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Accounting

A corporation issued 2,000 shares of $20 par value common stock for $48,000 cash. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $21,000. The stock has a $2 per share stated value. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $21,000. The stock has no stated value. A corporation issued 500 shares of $50

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

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