[The following information applies to the questions displayed below.]Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockholders’ equity.January 1 Issues 500 shares of common stock for $20 per share.April 1 Issues 200 additional shares of common stock for $24 per share.
1.
value:10.00 points
Required information
Required:1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)
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2.
value:10.00 points
Required information
2. Record the transactions, assuming Clothing Frontiers has either $1 par value common stock or $1 stated value stock. (If no entry is required for a transaction/event, select “No journal entry required” in the first account field.)
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