Answer:
a.
DR Cash	$48,000  
CR Common Stock (4,000*10)  $40,000
CR Paid in Excess of Par- Common Stock  	$8,000
<em>(To record common stock issued for cash)	</em>
Working
Paid in Excess of Par- Common Stock = 48,000- 40,000  
= $8,000
b.No stated value	
DR Organization expenses    $57,000  
CR Common Stock  	$57,000
<em>(To record common stock issued to promoters)	</em>
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c.	
DR Organization expenses	$57,000  
CR Common Stock (2,000 * $3)  $6,000
CR Paid in Excess of Par- Common Stock   $51,000
<em>(To record common stock issued to promoters)	</em>
Working
Paid in Excess of Par- Common Stock = 57,000 - 6,000
= $51,000
  
d.
DR Cash	$107,000  
CR Preferred Stock (1,000*50)  $50,000
CR Paid in Excess of Par- Preferred Stock  $57,000
<em>(To record preferred stock issued for cash)	</em>  
Working
Paid in Excess of Par- Preferred Stock 
= 107,000 - 50,000
= $57,000