Calico Corners Architecture is a new chain of clothing stores. Calico Corners issues $1,000$ shares of its $$1$ par value common stock at $$11$ per share.

Determine the financial statement effects of the issuance of the stock. How would the financial statement effects differ if Calico Corners issued no$-$par value stock?

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Required $1$

Determine the financial statement effects of the issuance of the stock.

Note: Amounts to be deducted should be indicated with a minus sign. If there are no effects for a particular transaction$/$event$,$ select "There are no financial stateme account field.