Engages in given transactions during the year

Reference no: EM131522136

Question: Clothing Frontiers began operations on January 1, 2012, and engages in the following transactions during the year related to stockholders' equity.

January 1 Issues 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 transactions, assuming Clothing Frontiers has no-par common stock.

2. Record the transactions, assuming Clothing Frontiers has $1 par value common stock.

3. Record the transactions, assuming Clothing Frontiers' common stock has a $1 stated value, rather than a $1 par value.

Reference no: EM131522136

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