During its first year of operations, sweet company had the following transactions pertaining to its common stock.
jan. 5 issued 49,000 shares for cash at $5 per share.
aug. 1 issued 19,000 shares for cash at $8 per share.
sept. 20 issued 5,000 shares and paid $46,000 in cash to a vendor in exchange for computers. the list price of the computers totaled $105,000.
dec. 19 issued 42,000 shares for cash at $9 per share.
(a) prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share.
(b) prepare the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $3 per share.