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Journalize issuance of common stock

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Question - During its first year of operations, Mona Corporation had these transactions pertaining to its common stock.

Jan. 10 Issued 30,000 shares for cash at $5 per share.

July 1 Issued 60,000 shares for cash at $7 per share.

Required -

Journalize the transactions, assuming that the common stock has a par value of $5 per share.

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

Journalize issuance of common stock.

Reference no: EM133088084

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