Question: 1. Hana Ascot is planning to start a business. Identify for Hana the advantages and disadvantages of the corporate form of business organization.
2. On May 10, Pilar Corporation issues 2,500 shares of $5 par value common stock for cash at $13 per share. Journalize the issuance of the stock.
3. On June 1, Forrest Inc. issues 3,000 shares of no-par common stock at a cash price of $7 per share. Journalize the issuance of the shares.