Question
To expand operation, Aragon Consulting issued 2,000 shares of previously unissued common stock with a par value of $1. The price for the stock was
To expand operation, Aragon Consulting issued 2,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. (Enter any decreases to account balances with a minus sign.); Assets = Liabilities + Stockholders' Equity 1-b Prepare the journal entry for the stock issuance. (If no entry is required for a transaction/event, Select "No Journal Entry Required" in the first account field.) Journal entry worksheet; Record the issuance of 2,000 shares with a $1 par value for a price of $50 per share. Transaction; General Journal; Debit; Credit. 2-a Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance with a par value of $2. (Enter any decreases to account balance with a minus sign.); Assets = Liabilities + Stockholders' Equity. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet; Record the issuance of 2,000 shares with a $2 par value for a price of $50 per share. Transaction; General Journal; Debit; Credit
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