Question

Required information [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 700 shares of common stock for $34 per share. April 1 Issues 110 additional shares of common stock for $38 per share. Required: 1. Record the transactions, assuming Clothing Frontiers has no-par common stock. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the issuance of 700 shares of common stock for $34 per share. Note: Enter debits before credits. General Journal Debit Credit Date January 01 Record entry View general journal Clear entry

Answer 1

| $ 23,800 1-Jan Cash 700*34 Common Stock To record issue of common stock $ 23,800 2 1-Apr Cash 110*38 $ 4,180 Common Stock To record issue of additional common stock $ 4,180