Gothic Architecture is a new chain of clothing stores specializing in the color black Gothic issues 1,000 shares of its $1 par value common stock at $30 per share Record the issuance of the stock How would the entry differ if Gothic issued no par value stock ...

Cash 1000 shares x 30 30000 Common Stock 1 ...

Gothic Architecture is a new chain of clothing stores specializing in the color black. Gothic issues 1,000

Question:

Gothic Architecture is a new chain of clothing stores specializing in the color black. Gothic issues 1,000 shares of its $1 at $30 per share.
Record the issuance of the stock. How would the entry differ if Gothic issued no-par value stock?

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,...