Stankovic Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the

Question:

Stankovic Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about accounting. During the first month, he made the following entries for the corporation's no capital shares:

Instructions
Based on the explanation for each entry, prepare the entries that should have been made for the capital share transactions. Explain your reasoning.

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... 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,...