QS 11-3 Issuance of par and stated value common stock LO P1

Prepare the journal entry to record Jevonte Companys issuance of 44,000 shares of its common stock assuming the shares have a:

1. $3 par value and sell for $22 cash per share.
2. $3 stated value and sell for $22 cash per share.

Journal entry worksheet

• Record the issuance of 44,000 shares of common stock assuming the shares have a $3 par value and sell for $22 cash per share.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
a.

• Record the issuance of 44,000 shares of common stock assuming the shares have a $3 stated value and sell for $22 cash per share.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
b.