Question

Refer to M11-4. Assume the issued stock has no par value. Analyze the accounting equation effects and record the journal entry for the issuance of the no-par value stock at $ 50. Do the effects on total assets, total liabilities, and total stockholders’ equity differ from those in M11-4?
Refer M11-4
To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $ 1. The price for the stock was $ 50 per share. Analyze the accounting equation effects and record the journal entry for the stock issuance. Would your answer be different if the par value were $ 2 per share? If so, analyze the accounting equation effects and record the journal entry for the stock issuance with a par value of $ 2.


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  • CreatedNovember 02, 2015
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