Question

Journalizing issuance of no-par stock

Eates Corp. issued 8,000 shares of no-par common stock for $13 per share.

Requirements

  1. Record issuance of the stock if the stock:
  • is true no-par stock.
  • has a stated value of $3 per share.

2. Which type of stock results in more total paid-in capital?

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Financial Accounting

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