Accounting IP4

ACCT202_U4_IP_template

Using the ACCT202_U4_IP_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.
Review ACCT202 U4_IP_Model Problem to help with this assignment.

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