(Learning Objective 2: Issuing stock—par value stock and no par stock) At fiscal year end 2006, Hewlett Packard and Krispy Kreme Doughnuts reported these adapted amounts on their balance sheets (all amounts in millions):
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Hewlett Packard: |
|
|
Common stock, 1 cent par value, 2,700 shares issued |
$ 27 |
|
Additional paid in capital |
17,966 |
|
Krispy Kreme Doughnuts: |
|
|
Common stock, no par value, 62 shares issued |
$298 |
Assume each company issued its stock in a single transaction. Journalize each company’s issuance of its stock, using its actual account titles. Explanations are not required.