On February 1, 2019, Gruber plc issued 3,000 shares of its 5 par value ordinary shares for land worth 31,000 Prepare the February 1, 2019, journal entry ...

On February 1, 2019, Gruber plc issued 3,000 shares of its 5 par value ordinary shares for

Question:

On February 1, 2019, Gruber plc issued 3,000 shares of its £5 ordinary shares for land worth £31,000. Prepare the February 1, 2019, journal entry.
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,...