October 1 began business by making a deposit in a company bank account of $12,000, in exchange for shares of $10 par value common stock How this should be posted to the general journal and T accounts ...

Computation of Journal Entries and T accounts When ...

October 1 began business by making a deposit in a company bank account of $12,000, in exchange

Question:

October 1 began business by making a deposit in a company bank account of $12,000, in exchange for shares of $10 common stock.
How this should be posted to the general journal and T accounts.

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,...