A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capitam Excess of Par Value, Common Stock for $324,000. A credit to Common Stock for $189,00O. A debit to Cash for $135,00.
A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capitam Excess of Par Value, Common Stock for $324,000. A credit to Common Stock for $189,00O. A debit to Cash for $135,00.
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...
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