question archive Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation Issues 5,000 shares of its common stock for $96,100 cash on February 20
Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation Issues 5,000 shares of its common stock for $96,100 cash on February 20
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Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation Issues 5,000 shares of its common stock for $96,100 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
1. The stock has a $12 par value.
2. The stock has neither par nor stated value.
3. The stock has a $6 stated value.
Record the issue of 5,000 shares of $12 par value common stock for $96,100 cash.
Record the issue of 5,000 shares of no-par, no-stated value common stock for $96,100 cash.
Record the issue of 5,000 shares of $6 stated value common stock for $96,100 cash.
Option 1
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