The following was in the financial press pertaining to GoDaddy Incorporated: April 1, 2015-GoDaddy's (GDDY) stock was

Question:

The following was in the financial press pertaining to GoDaddy Incorporated:
April 1, 2015-GoDaddy's (GDDY) stock was sold for $26 per share during its opening day of trading. GoDaddy sold 23 million shares at its IPO.
Required:
1. Record the issuance of stock, assuming the stock was no-par value common stock.
2. Record the issuance of stock, assuming the had a of $2 per share.
3. Should a stockholder care whether a company issues par or no-par value stock? Explain.
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,...