Please help- recording stock issuances I don’t understand this?

Question

Prepare journal entries to record the following four separate issuances of stock:

1.Two thousand shares of no-par common stock are issued to the corporation’s promoters in exchange for their efforts, estimated to be worth $30,000. The stock has no stated value.

2.Two thousand shares of no-par common stock are issued to the corporation’s promoters in exchange for their efforts, estimated to be worth $30,000. The stock has a $1 per share stated value.

3.Four thousand shares of $10 par value common stock are issued for $70,000 cash.

4.One thousand shares of $100 par value preferred stock are issued for $120,000 cash.

Answer 1

1.Two thousand shares of no-par common stock are issued to the corporation’s promoters in exchange for their efforts, estimated to be worth $30,000. The stock has no stated value

Dr  Organizations Costs (Promoters' fees) $30,000

Cr  Common stock $30,000

2.Two thousand shares of no-par common stock are issued to the corporation’s promoters in exchange for their efforts, estimated to be worth $30,000. The stock has a $1 per share stated value

Dr  Organizations Costs (Promoters' fees) $30,000

Cr  Common stock $2,000

Cr  Additional paid-up in excess of stated value $28,000

3.Four thousand shares of $10 par value common stock are issued for $70,000 cash

Dr  Cash $70,000

Cr  Common stock $40,000

Cr  Additional paid-up in excess of par $30,000

4.One thousand shares of $100 par value preferred stock are issued for $120,000 cash

Dr  Cash $120,000

Cr  Preferred stock $100,000

Cr  Additional paid-up in excess of par (preferred) $20,000