Recording Entries for Common Stock Issuance Record journal entries for the following separate transactions

Recording Entries for Common Stock Issuance

Record journal entries for the following separate transactions. 

a. Max Inc. issued 15,000 shares of $1 par value common stock for $20 per share on January 1, 2020. 

b. Max Inc. issued 3,000 shares of no-par common stock for $25 per share on January 1, 2020. The state of incorporation requires a minimum value per share of $2. 

c. Max Inc. issued 1,500 shares of no-par common stock for $18 per share on January 1, 2020. 

d. Max Inc. issued 15,000 shares of $1 par value common stock for $18 per share on January 1, 2020, and incurred $3,000 in legal fees related to the stock issuance. 

e. Max Inc. issued 30,000 shares of common stock ($1 par) in exchange for equipment with a fair value of $534,000. 

f. Max Inc. issued 9,000 shares of Class A common stock ($1 par) and 12,000 shares of Class B common stock ($2 par) at a price of $240,000. At the time of issuance, the market price of the Class A common stock is $15 per share, and the market price of the Class B common stock is $10 per share. 

g. Max Inc. issued 9,000 shares of Class A common stock ($1 par) and 12,000 shares of Class B common stock ($2 par) at a price of $255,000. At the time of issuance, the market price of the Class A common stock is $16 per share, and the market price of the Class B common stock is unknown.