Respuesta :
The entry to record the issuance of 100 shares of common stock with no par value for $700 would include a debit to cash.
Because if a company has sold no-par-value stocks, the proceeds from the transaction will be credited to the common stock account only. Hence, the accounting entry will be a debit to cash and credit to the common stock account.
No-par-value stock is a stock that is not assigned a par value or face value. It is also known as no-par stock.The minimum price at which a class of share can be traded on the initial offering is called the par value of that share.
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