Western Wear Clothing issues 2,000 shares of its $0 01 par value common stock to provide funds for further expansion Assuming the issue price is $12 per share, record the issuance of common stock ...

Cash 2000 shares x 12 24000 ...

Western Wear Clothing issues 2,000 shares of its $0.01 par value common stock to provide funds for

Question:

Western Wear Clothing issues 2,000 shares of its $0.01 to provide funds for further expansion. Assuming the issue price is $12 per share, record the issuance of common stock.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...