Prepare the journal entry to record Typist Companys issuance of 250,000 shares of its common stock assuming the shares have a a $1 par value and sell for $10 cash per share b $1 stated value and sell for $10 cash per share ...

a Cash 2500000 Common Stock 1 Par Value 250000 PaidIn Capital in Excess of Par Value Comm ...

Prepare the journal entry to record Typist Companys issuance of 250,000 shares of its common stock assuming

Question:

Prepare the journal entry to record Typist Company’s issuance of 250,000 shares of its assuming the shares have a:
a. $1 and sell for $10 cash per share.
b. $1 stated value and sell for $10 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,...