During its first year of operations, Pronghorn Corp had these transactions pertaining to its common stock. Jan. 10 Issued 26,200 shares for cash at $4 per share. July 1 Issued 56,000 shares for cash at $7 per share. ort (a) Journalize the transactions, assuming that the common stock has a par value of $4 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not ind manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credit No. Date Account Titles and Explanation (a) 10: to search 4/23 F6 *- F11 *** F8 F9 F10 PrtSc Insert F12 Delete 415 ASY & 8. Backspace Num Lock II

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.