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May 1, 2010, Mr. Medford incorporated Medford Moving Co.. Medford Moving Co. issued 100,000 common shares. The par value per share is $1, and the
- May 1, 2010, Mr. Medford incorporated Medford Moving Co.. Medford Moving Co. issued 100,000 common shares. The par value per share is $1, and the company got $300,000 from issuing shares.
How can the company get $300,000 issuing shares if there are only 100,000 shares and par value per share is $1? Does there need to be two separate journal entries to account for this?
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Financial Accounting
Authors: Anne Britton, Chris Waterston
5th edition
273719300, 273719304, 978-0273719304
