Following are the issuances of stock transactions. A corporation issued 6,000 shares of $20 par...
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Accounting
Following are the issuances of stock transactions.
A corporation issued 6,000 shares of $20 par value common stock for $144,000 cash.
A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,000. The stock has a $2 per share stated value.
A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,000. The stock has no stated value.
A corporation issued 1,500 shares of $100 par value preferred stock for $201,000 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
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