Answer: PLease find answers in explanation column
Explanation:
1. Being issued for common stock at $20 par value
Account                                     Debit                         Credit
Cash                                      $96,000
Common stock  at $20 par value (4000 x 20)            $80,000
 Paid in excess capital of par Common stock               $16,000
($96,000 - $80,000)                                                     
2. Being issued for stated stock at $1 to promoters 
   Account                                     Debit                         Credit
0rganisation expenses              $20,500                 
Common stock  at $1 stated  value (2000 x 1)              $2,000
 Paid in excess capital of par Common stock
($20,500 - $2,000                                                           $18,500
3. Being issued to promoters at no stated value 
Account                                     Debit                         Credit
Organization expenses           $20,500
Common stock, no-par value                                      $20,500    
4. Being issued at preferred stock of $50 par value  
 Account                                     Debit                         Credit
Cash                                        $242,500                  
Preferred stock  at $50 par value (1000 x 50)              $50,000
 Paid in excess capital of par Preferred stock
($242,500  - $50,000)                                                      $192,500