Prepare the journal entry to record Zende Companys issuance of 75,000 shares of $ 5 par value common stock assuming the shares sell for a $5 cash per share b $6 cash per share ...

a Cash 375000 Common Stock 5 Par Value 375000 I ...

Prepare the journal entry to record Zende Companys issuance of 75,000 shares of $ 5 par value

Question:

Prepare the journal entry to record Zende Company’s issuance of 75,000 shares of $ 5 assuming the shares sell for:
a. $5 cash per share.
b. $6 cash 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,...