Prepare the journal entry to record Channel One Companys issuance of 100,000 shares of $0 50 par value common stock assuming the shares sell for a $0 50 cash per share b $2 cash per share ...

a Cash 50000 Common Stock 050 Par Value 50000 Issued ...

Prepare the journal entry to record Channel One Companys issuance of 100,000 shares of $0.50 par value

Question:

Prepare the journal entry to record Channel One Company’s issuance of 100,000 shares of $0.50 assuming the shares sell for:
a. $0.50 cash per share.
b. $2 cash per share.

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... 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,...