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Discuss the common stock has a par value of per share

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Reference no: EM131761396

During its first year of operations, Foyle Corporation had the following transactions pertaining to its common stock.

Jan. 10 Issued 75,000 shares for cash at $7 per share.
July 1
Issued 35,000 shares for cash at $9 per share.

Journalize the transactions, assuming that the common stock has a par value of $7 per share.

Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.

Reference no: EM131761396

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