ework A Saved Help [The following information applies to the questions displayed below.) Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29.000. The stock has no stated value, 4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit < Prev 3 4 of 9 Next > МacВook Air DII F7 F3 F4 FS F2 @ 4 6 7 8 E R T Y D H J K R N M F. Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet ces C D Record the issue of 4,000 shares of $30 par value common stock for $144,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit < Prev 4 of 9 Next > MacBook Air DII F7 F4 23 & 2 3 5 7 W E R Y G H J K C V -* 00 B 的4

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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Prepare journal entries to record each of the following four separate issuances of stock.
ework A
Saved
Help
[The following information applies to the questions displayed below.)
Following are the issuances of stock transactions.
1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash.
2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to
be worth $29,000. The stock has a $1 per share stated value.
3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to
be worth $29.000. The stock has no stated value,
4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
View transaction list
Journal entry worksheet
Record the issue of 2,000 shares of no-par common stock to its promoters in
exchange for their efforts, estimated to be worth $29,000. The stock has a $1
per share stated value.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
< Prev
3 4 of 9
Next >
МacВook Air
DII
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F3
F4
FS
F2
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4
6
7
8
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Transcribed Image Text:ework A Saved Help [The following information applies to the questions displayed below.) Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29.000. The stock has no stated value, 4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit < Prev 3 4 of 9 Next > МacВook Air DII F7 F3 F4 FS F2 @ 4 6 7 8 E R T Y D H J K R N M F.
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash.
2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to
be worth $29,000. The stock has a $1 per share stated value.
3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to
be worth $29,000. The stock has no stated value.
4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
View transaction list
Journal entry worksheet
ces
C D
Record the issue of 4,000 shares of $30 par value common stock for $144,000
cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
< Prev
4
of 9
Next >
MacBook Air
DII
F7
F4
23
&
2
3
5
7
W
E
R
Y
G
H
J
K
C
V
-* 00
B
的4
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $30 par value common stock for $144,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $79,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet ces C D Record the issue of 4,000 shares of $30 par value common stock for $144,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit < Prev 4 of 9 Next > MacBook Air DII F7 F4 23 & 2 3 5 7 W E R Y G H J K C V -* 00 B 的4
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