Question: Capitulo 13 E13-3 During its first year of operations, Benji Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 70,000 shares

Capitulo 13 E13-3 During its first year of operations, Benji Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 70,000 shares for cash at $5 per share. July 1 Issued 40,000 shares for cash at $7 per share. Instructions (a) Journalize the transactions, if the common stock has a par value of $5 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. Answers (a) (b)

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