Marios Grocery began operations on December 1, 2015, and has a year end of December 30 On December 1, the owners invested $ 50,000 ( the par value of the stock) in return for 5,000 shares of common stock On December 7, the company took out a loan from the bank in the amount of $ 150,000, and on Dec...

General journal Date Account Titles and Explan ...

Marios Grocery began operations on December 1, 2015, and has a year- end of December 30. On

Question:

Mario’s Grocery began operations on December 1, 2015, and has a year- end of December 30. On December 1, the owners invested $ 50,000 ( the of the stock) in return for 5,000 shares of common stock. On December 7, the company took out a loan from the bank in the amount of $ 150,000, and on December 15, the company purchased a building to be used as its selling facility for $ 90,000 in cash. Prepare the general journal entries for the month of December. 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,...