To expand operations, Aragon Consulting issued 170,000 shares of previously unissued stock with a par value of $1. Investors purchased the stock for $21 per share.
a. Sale of the above stock.
b. Sale of above stock if the par value was $2 per share.
Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
a) Number of shares issued = 170000 Par value of stock = $1 Purchase price of stock =$21 Total par value of stock = Number of... View the full answer