Environmental Designs issues 5,000 shares of its $1 par value common stock at $18 per share. (1) Record the issuance of the stock. (2) Record the issuance of the stock assuming it is no-par value stock.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 9EA: St. Marie Company is authorized to issue 1,000,000 shares of $5 par value preferred stock, and...
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Environmental Designs issues 5,000 shares of its $1 par value common stock at $18 per share. (1) Record the issuance of the stock. (2) Record the issuance of the stock assuming it is no-par value stock. 

 

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