Question #3 Western Wear Clothing issues 3,000 shares of its S0.01 par value common stock...
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Question #3 Western Wear Clothing issues 3,000 shares of its S0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $11 per share, record the issuance of common stock. Question #4 Gothic Architecture is a new chain of clothing stores specializing in the color black. Gothic issues 1,000 shares of its $1 par value common stock at $30 per share. 1. Record the issuance of the stock. 2. How would the entry differ if Gothic issued no-par value stock? Question #5 Divine Apparel has 4,000 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends
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