Illustrate what impact does the entry to record

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Reference no: EM13122561

Q. Debbie's Deli began operations on March 1, 2010. The corporate charter authorized the issuance of 3,000 shares of $2 par value common stock and 1,000 shares of $3 par value, 8% cumulative preferred stock. The company's fiscal year ends on February 28. Debbie's sold 500 shares of common stock at $6 per share on April 1. Illustrate what impact does the entry to record the April 1 transaction have on total stockholders' equity?

Reference no: EM13122561

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