Question: Sussex Company is authorized to issue 100 000 shares of common

Sussex Company is authorized to issue 100,000 shares of common stock. On August 1, the company issued 5,000 shares at $25 per share. Prepare journal entries to record the issuance of stock for cash under each of the following alternatives:
(1) The stock has a par value of $25;
(2) The stock has a par value of $10;
(3) The stock has no par value;
(4) The stock has a stated value of $1 per share.


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  • CreatedMarch 26, 2014
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