Clothing Frontiers began operations on January 1 and engages in the following transactions during the year...

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Clothing Frontiers began operations on January 1 and engages in the following transactions during the year related to stockho

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Answer 1

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Journal Entries
Sr. No.	Date	Account Title and explanation	Debit	Credit

1	January, 01	Cash (500 Shares X $ 33)	$16,500
		Common Stock		$16,500
		(Issue of 500 Shares of common Stock)


2	April, 01	Cash (120 Shares X $ 37)	$4,440
		Common Stock		$4,440
		(Issue of 120 Shares of common Stock)

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Answer 2

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