California Corporation has two classes of stock: Common, $2 par; and Preferred, $10 par. Requirement 1. Journalize

Question:

California has two classes of stock: Common, $2 par; and Preferred, $10 par.
Requirement
1. Journalize California’s issuance of
a. 2,000 shares of for $11 per share.
b. 2,000 shares of preferred stock for a total of $20,000.

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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...