Golightly Company issued 25,000 shares of no par common stock at $45 per share for cash Make the necessary journal entry (or entries) to record this transaction ...

Golightly Company issued 25,000 shares of no-par common stock at $45 per share for cash. Make the

Question:

Golightly Company issued 25,000 shares of no-par at $45 per share for cash. Make the necessary journal entry (or entries) 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...