Aloha Corporation issues 5,000 shares of its common stock for $84,200 cash on February 20. 1. Assume

Question:

Aloha Corporation issues 5,000 shares of its common stock for $84,200 cash on February 20.

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

2. Assume the stock has a $14 par value. Prepare journal entries to record this event

3. Assume the stock has an $7.0 stated value. Prepare journal entries to record this event.

Common Stock
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