Journalize the following Mar 8 Patriot Co sells 700 shares of $25 par value common stock at $25 Oct 21 Jupiter Co sells 600 shares of $12 par value common stock at $17 Nov 22 Acer Co sells 150 shares of no par common stock with a stated value of $16 for $32 per share Dec 21 Large Co issues 670 shar...

Mar 8 Cash 17500 Common stock 17500 Oct 21 Cash 10200 Common stock ...

Journalize the following: Mar. 8 Patriot Co. sells 700 shares of $25 par value common stock at

Question:

Journalize the following:
Mar. 8 Patriot Co. sells 700 shares of $25 at $25.
Oct. 21 Jupiter Co. sells 600 shares of $12 at $17.
Nov. 22 Acer Co. sells 150 shares of no-par with a stated value of $16 for $32 per share.
Dec. 21 Large Co. issues 670 shares of $3 to organizers of the firm for services rendered costing $6,500.

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,...