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To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock
To expand operations, Aragon Consulting issued 1,000 shares of previously unissued common stock with a par value of $1. The price for the stock was $50 per share. Required: 1-a. Complete the table below, indicating the account, amount, and direction of the effect for the stock issuance. 1-b. Prepare the journal entry for the stock issuance. 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. 2-b. Prepare the journal entry for the stock issuance, if the par value were $2 per share. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2A Req 2B 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.) Cash Assets Liabilities Common Stock < Req 1A Req 1B > Stockholders' Equity
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