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The following was in the financial press pertaining to Jackson Inter.pdf

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The following was in the financial press pertaining to Jackson International: April 1, 2015- Jackson International\'s (JCK) stock was sold for $23 per share during its opening day of trading. Jackson sold 50 million shares at its IPO. Record the issuance of stock, assuming the common stock had a par value of $1 per share.$23 is the issuance price. Solution Entry for issuance of common stock:- Cash Dr. 1,150 Miln To Common stock at $1 Par (1*50) 50 Million To Capital in excess of par (50*22) 1,100 Million.

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The following was in the financial press pertaining to Jackson International: April 1, 2015- Jackson International's (JCK) stock was sold for $23 per share during its opening day of trading. Jackson sold 50 million shares at its IPO. Record the issuance of stock, assuming the common stock had a par value of $1 per share.$23 is the issuance price. Solution Entry for issuance of common stock:- Cash Dr. 1,150 Miln To Common stock at $1 Par (1*50) 50 Million To Capital in excess of par (50*22) 1,100 Million

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