Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders equity January 1 Issues 700 shares of common stock for $50 per share April 1 Issues 110 additional shares of common stock for $54 per share Required 1 Record the transa...

Requirement 1 January 1 Cash 700 shares x 50 35000 ...

Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related

Question:

Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity.
January 1 Issues 700 shares of for $50 per share.
April 1 Issues 110 additional shares of for $54 per share.

Required:
1. Record the transactions, assuming Clothing Frontiers has no-par .
2. Record the transactions, assuming Clothing Frontiers has either $1 or $1 stated value .

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,...