Question

Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity.
January 1 Issues 700 shares of common stock for $50 per share.
April 1 Issues 110 additional shares of common stock for $54 per share.

Required:
1. Record the transactions, assuming Clothing Frontiers has no-par common stock.
2. Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock.



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  • CreatedJuly 15, 2014
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