Carlos Company decided to raise additional capital in the equity market. Carlos engaged an underwriter to float

Question:

Carlos Company decided to raise additional capital in the equity market. Carlos engaged an underwriter to float a new common share issue. The issue consisted of 5,000 shares of $ 3 common stock. Carlos paid the underwriter 2% of the total issue price. Carlos issued the shares at a price of $ 16 per share. Prepare the journal entry required to record the issuance of the shares assuming that the stock issue costs are not capitalized. 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,...