Plymouth Company issues 300,000 shares of common stock (par value $0.05) for $27 per share on June

Question:

Plymouth Company issues 300,000 shares of (par value $0.05) for $27 per share on June 30, 2011.

Required:
Prepare the journal entry to record 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...