Wolcott Corporation issued 5,000 shares of no-par common stock for $2 per share on January 13. Record

Question:

Wolcott issued 5,000 shares of no-par for $2 per share on January 13. Record the stock issuance.
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... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...