Question: (The difference between par and no par value shares, LO 2) For each of the following transactions, record the required journal entry: a. 25,000 shares

(The difference between par and no par value shares, LO 2) For each of the following transactions, record the required journal entry:

a. 25,000 shares of no par value shares are issued for $30 per share.

b. 25,000 shares of $0.10 par value shares are issued for $30 per share.

c. 25,000 shares of $1.00 par value shares are issued for $30 per share.

d. What effect does par value have on the financial statements? Does par value affect any ratios or the interpretation of the financial statements? Explain.

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