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Rodriguez Corporation issues 6,000 shares of its common stock for $81,800 cash on February 20.

Assume the stock has a $6 par value. Prepare journal entries to record this event.

Feb 20: Record the issue of 6,000 shares of $6 par value common stock for $81,800 cash.

2.	Assume the stock has neither par nor stated value. Prepare journal entries to record this event.

Feb. 20: Record the issue of 6,000 shares of no-par, no-stated value common stock for $81,800 cash

3.	Assume the stock has an $3 stated value. Prepare journal entries to record this event.

Feb. 20: Record the issue of 6,000 shares of $3 stated value common stock for $81,800 cash.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9795373

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