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QUESTION
Please explain how to journal entry this information: A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
- Please explain how to journal entry this information: A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
- A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
- A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value.
- A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash.
