Carter, Inc., issued 100,000 shares of $1 par value common stock on December 1, 2013. On that

Question:

Carter, Inc., issued 100,000 shares of $1 on December 1, 2013. On that date, the market price of the shares was $18 per share. What journal entry did Carter record to reflect this transaction?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...