E-F: 13-23 Journalizing issuance of no-par stock Estes Corp. issued 4,000 shares of no-par common stock for $9 per share. Requirements 1. Record issuance of the stock if the stock: a. is true no-par stock. b. has a stated value of $2 per share. 2. Which type of stock results in more total paid-in capital? G
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Step 1: For true no-par stock: - The journal entry to record the issuance of 4,000 shares of no-par common stock for $9 per share would be: Cash (4,000 shares * $9) 36,000 Common Stock 36,000 Show more…
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