In 2007, The Taylor Company was granted a charter from the state of Tennessee allowing it to issue 23,000 shares of common stock. In February 2007,…
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2.In 2007, The Taylor Company was granted a charter from the state of Tennessee allowing it to issue 23,000 shares of common stock. In February 2007, it sold 13,400 shares at $22 per share. Record the issuance of the common stock for each of the following scenarios:•Stock has no par or stated value •Stock had a par value of $13 per share •Stock has a stated value of $9 per share
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