Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $45,000. The stock has a $3 per share stated value. 3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $45,000. The stock has no stated value. 4. A corporation issued 750 shares of $75 par value preferred stock for $101,250 cash. Journal entry worksheet Record the issue of 3,000 shares of $10 par value common stock for $36,000 cash. Note: Enter debits before credits. Record the issue of 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $45,000. The stock has a $3 per share stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $45,000. The stock has no stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 750 shares of $75 par value preferred stock for $101,250 cash. Note: Enter debits before credits
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