Zeus Corporation issued 5,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) The stock had a par value of $5 per share and was issued for a total of $65,000. (b) The stock had a stated value of $5 per share and was issued for a total of $65,000. (c) The stock had a par value of $5 per share and was issued to attorneys for services during in-corporation valued at $65,000. (d) The stock had a par value of $5 per share and was issued for land worth $65,000.

Cash 65,000 debit

Common Stock 25,000 credit

Additional paid-in CS 40,000 credit

Fees Expense 65,000 debit

Common Stock 25,000 credit

Additional paid-in CS 40,000 credit

Land 65,000 debit

Common Stock 25,000 credit

Additional paid-in CS 40,000 credit

Explanation:

In all cases we compare the face value of the stock agint the market value exchanged for the shares.

a) and b) 5,000 shares x $5 par value or state value = 25,000

as we receive 65,000 there are 40,000 aditional paid-in CS

par value and stated value refer to the same the value printed in the shares documents

c) we have to recognize the fees expense or the account payable if these were already accrued

d) we debit the land received in exchange for the land