Rodriguez Corporation issues 19,000 shares of its common stock for $ 152,000 cash on February 20. Prepare

Question:

Rodriguez issues 19,000 shares of its for $ 152,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.
1. The stock has a $ 2 par value.
2. The stock has neither par nor stated value.
3. The stock has an $ 5 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... 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...