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Exercise 11-3(Algo) Accounting for par, stated, and no-par stock issuances LO P1 ...

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Accounting

Exercise 11-3(Algo) Accounting for par, stated, and no-par stock issuances LO P1
Rodriguez Corporation issues 18,000 shares of its common stock for $370,600 cash on February 20. Prepare journal entries to record
this event under each of the following separate situations.
The stock has a $18 par value.
The stock has neither par nor stated value.
The stock has a $9 stated value.
Journal entry worksheet
Record the issue of 18,000 shares of $18 par value common stock for
$370,600 cash.
Note: Enter debits before credits.
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