Corporate reporting and analysis #1

Rodriguez Corporation issues 11,000 shares of its common stock for $152,700 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $10 par value. 2. The stock has neither par nor stated value. 3. The stock has a $5 stated value. Journal entry worksheet Record the issue of 11,000 shares of $10 par value common stock for $152,700cash. Notel Enter debits before credits. Journal entry worksheet Record the issue of 11,000 shares of no-par, no-stated value common stock for $152,700 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 11,000 shares of $5 stated value common stock for $152,700 cash. Note: Enter debits before credits