On May 10, Murex Corporation issues 1,000 shares of $10 par value ordinary shares for cash at $18 per share Journalize the issuance of the shares ...

On May 10, Murex Corporation issues 1,000 shares of $10 par value ordinary shares for cash at

Question:

On May 10, Murex issues 1,000 shares of $10 ordinary shares for cash at $18 per share. Journalize the issuance of the shares.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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,...