Issuing shares with no par value
Daily Needs Inc. has 700,000 shares authorized by the government, on June 3rd, the company issued 30,000 shares for AED 270,000.
• Calculate the price per share
• Record the issuance of shares in the general journal
Price Per Share
General journal
Date Account Debit Credit
Task 2 – Issuing shares with par value
Daily Needs Inc. has 700,000 shares authorized by the government, on June 3rd, the company issued 30,000 shares AED 3 par value for AED 270,000.
▪ Record the issuance of shares
Sample Solution