Question

Sigma Company is authorized to issue 100,000 shares of common stock. The company sold 5,000 shares at $12 per share. Prepare journal entries to record the sale of stock for cash under each of the following independent alternatives:
(1) The stock has a par value of $5,
(2) The stock has no par value but a stated value of $1 per share.



$1.99
Sales9
Views267
Comments0
  • CreatedMarch 26, 2014
  • Files Included
Post your question
5000