To expand operations, Aragon Consulting issued 170,000 shares of previously unissued stock with a par value of

Question:

To expand operations, Aragon Consulting issued 170,000 shares of previously unissued stock with a par value of $1. The selling price for the stock was $21 per share. Record the sale of this stock. Would your answer be different if the par value was $2 per share? If so, record the sale of stock with a par value of $2.

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,...