Clothing Frontiers began operations on January 1 and engages n the following transactions during the year related to stockholders equity.
January 1 Issue 600 shares of common stock for $40 per share
April 1 Issues 100 additional shares of common stock for $44 per share.
Required:
1. Record the transaction assuming Clothing Frontiers has no-par common stock.
Date General Journal Debit Credit
January 01
2. Record the transactions, assuming Clothing Frontiers has either $1 par value or 41 stated value common stock.
Date General Journal Debit Credit
January 01
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