Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases:
The guidance report numbers reflect on March -April class starting dates. Thank you!
Chapter 2 Exercise 1:
Issuance of stock
Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases:
- Jackson Corporation has common stock with a par value of $1 per share.
- Royal Corporation has no-par common with a stated value of $5 per share.
- French Corporation has no-par common; no stated value has been assigned.