Stephenson Products issued 9,000 shares of its $ 1 par value common stock in exchange for some

Question:

Stephenson Products issued 9,000 shares of its $ 1 in exchange for some machinery. Prepare the journal entry for each of the following situations:
A. The machinery has a fair market value of $ 187,000.
B. The machinery has a list price of $ 245,000, but the stock sold earlier in the day for $ 26 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,...