FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
24th Edition
ISBN: 9781260260724
Author: Wild
Publisher: MCG
Question
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Chapter F, Problem 12QS
To determine

Concept Introduction:

Issuance of Common Stock:

Common Stock may be issued at par or stated value. In case the issue price is more than the par or stated value, the shares are called to be issued at premium and in case the issue price is less than the par or stated value, the shares are called to be issued at discount. Common stocks may also be issued at no par or stated value, in such case there shall be no premium or discount recorded on the issue of shares.

To Prepare:

The journal entry to record the issuance of the capital stock

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