4)Tim issues 2,000 shares of its no-par common stock. The issue price of the stock...
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Accounting
4)Tim issues 2,000 shares of its no-par common stock. The issue price of the stock is $18 per share. What is the journal entry required to record the issuance of the shares?
5) By what amount did this transaction affect Tims total shareholder equity? (show calculations)
6) By what amount did this transaction affect Tims net income for the year? (show calculations)
7) Bob issues common stock with a par value of $700 in exchange for equipment. The common stock has a fair value of $2,800. What is the journal entry required to record this transaction?
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