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 $50 per share.
Aprill 1 Issues 110 additional shares of common stock for $54 per share.
Required:
Record the transactions, assuming Clothing Frontiers has no-par common stock.
Record the transactions, assuming Clothing Frontiers has either $1 par value or $1 stated value common stock.( omit account numbers)