Exercise 10-3

Required information Exercise 10-3 (Algo) Record the issuance of common stock (LO10-2) [The following information applies to the questions displayed below.] Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 500 shares of common stock for $42 per share. April 1 Issues 120 additional shares of common atock for $46 per share. Exercise 10-3 (Algo) Part 1 Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of 500 shares of common stock for $42 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 120 additional shares of common stock for $46 per share. Note: Enter debits before credits. Required information Exercise 10-3 (Algo) Record the issuance of common stock (LO10-2) [The following information applies to the questions displayed below.] Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders' equity. January 1 Issues 500 shares of common stock for \$42 per share. Apri1 I Issues 120 additional shares of common stock for $46 per share. Exercise 10-3 (Algo) Part 2 2. Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the issuance of 500 shares of common stock for $42 ver share, Journal entry worksheet Record the issuance of 500 shares of common stock for $42 per share. Note: Enter debits before credits. Journal entry worksheet Record the issuance of 120 additional shares of common stock for $46 per share. Note: Enter debits before credits