Brown Corporation issues 800 shares of its $5 par common stock for $20 per share. Prepare the

Question:

Brown issues 800 shares of its $5 par for $20 per share. Prepare the journal entry to record this transaction.

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...