Question #2

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

Jan. 10 Issued 60,000 shares for cash at $5 per share.

July 1 Issued 50,000 shares for cash at $8 per share. Instructions:

(a) Journalize the transactions, assuming that the common stock has a par value of $5 per share.

(b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share.

(c) Compare the effect the two Jan. 10 transactions would have on Roldans assets, liabilities, stockholders equity, and net income.

(d) Compare the effect the two July 1 transactions would have on Roldans assets, liabilities, stockholders equity, and net income.

**I figured out (a) and (b) [see below] - I just need assistance with (c) and (d)

a)	Journalize the transactions, assuming that common stock has a par value of $5 per share
GENERAL JOURNAL
Date	Account Title	Debit	Credit
10-Jan	Cash	300,000
	Common Stock		300,000
	To record issue of common stock
1-Jul	Cash	400,000
	Common Stock		250,000
	Paid-in Capital in Excess of Par Value		150,000
	To record issue of common stock
b)	Journalize the transactions, assuming that the common stock is no-par with a stated value of $2 per share.
GENERAL JOURNAL
Date	Account Title	Debit	Credit
10-Jan	Cash	300,000
	Common Stock		120,000
	Paid-in capital excess of stated value		180,000
	To record issue of common stock
1-Jul	Cash	400,000
	Common Stock		100,000
	Paid-in capital excess of stated value		300,000
	To record issue of common stock