Exercise 11-3

During its first year of operations, Branden Corporation had the following transactions pertaining to its common stock.

Jan. 10		Issued 71,000 shares for cash at $4 per share.
July 1		Issued 29,500 shares for cash at $8 per share.

(a) Journalize the transactions, assuming that the common stock has a par value of $4 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 10
July 1

(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 10
July 1