Problem
Details
Using the template, prepare journal entries to record each of the following four separate issuances of stock:
• 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 $45,000. The stock has a $5 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 $45,000. The stock has no stated value.
• A corporation issued 500 shares of $25 par value preferred stock for $57,500 cash.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.
Attachment:- Template.rar