During the first year of operations, Benjis Health Club had the following transactions pertaining to its common

Question:

During the first year of operations, Benji’s Health Club had the following transactions pertaining to its :
Jan. 8 Issued 50,000 shares for cash at $10 per share.
Aug. 1 Issued 25,000 shares for cash at $12 per share.
(a) Journalize the transactions, assuming that the has a of $1 per share.
(b) Journalize the transactions, assuming that the is no-par with a stated value of $0.50 per share.

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,...