Green Company, a food coloring manufacturer that provides its products to large processed food corporations, issues 450,000 shares of common stock (par value $0 10) for $22 per share on September 30, 2019 Required Prepare the necessary journal entry to record this transaction ...

Journal Date Account and Explanation Debit Credit 201 ...

Green Company, a food coloring manufacturer that provides its products to large processed food corporations, issues 450,000

Question:

Green Company, a food coloring manufacturer that provides its products to large processed food corporations, issues 450,000 shares of (par value $0.10) for $22 per share on September 30, 2019.
Required:
Prepare the necessary 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...