# Swarten Corporation issued 690 shares of no-par common stock for $9,120. Prepare Swarten's... ## Question: Swarten Corporation issued 690 shares of no-par common stock for$9,120. Prepare Swarten's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $4 per share. No. Account Titles and Explanation Debit Credit (a) (b) ## Common Stock: Common stock is a representation of partial ownership in a company. No-par value stock is the stock that has not been assigned a value per share. Stated value stock is assigned a value at issuance. ## Answer and Explanation: The question states the following: • 690 shares of no-par common stock for$9,120

(a) Journal Entry when the stock has no stated value:

When the stock...

Become a Study.com member to unlock this answer! Create your account