Castalia, Inc., has issued shares of its $0.80 par value common stock on September 4, 2011, for

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Castalia, Inc., has issued shares of its $0.80 par value common stock on September 4, 2011, for $8 per share. The Additional Paid-In Capital—Common Stock account was credited for $612,000 in the journal entry to record this transaction.

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How many shares were issued on September 4, 2011? 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...
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,...
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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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