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Recording Entry for Stock Issuance In May of 2012, Fastbook raised over $11 billion in its initial public offering. Approximately 294.8 million shares of Class
Recording Entry for Stock Issuance In May of 2012, Fastbook raised over $11 billion in its initial public offering. Approximately 294.8 million shares of Class A common stock, $0.000006 par value were sold for $27 a share. Required Ignoring stock issue costs, record the journal entry for this stock issuance. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Note: Round your answers to the nearest whole dollar. Date Account Name Dr. Cr. May 2012 0 0 0 0 O 0 Check
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