On September 30, 2014, Homing Corporation issued 500,000 shares of $0.10 par value common stock. The market

Question:

On September 30, 2014, Homing issued 500,000 shares of $0.10 common stock. The market price of the shares on this date was $30 per share. What journal entry did Homing record to reflect this transaction?

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,...