Caesar Cruise Lines, Inc B) C) D)

Caesar Cruise Lines, Inc. issues 7,000 shares of common stock with a $2 par value. The issue price of the stock is $28 per share, and the company paid an underwriter $500 in stock issue costs. What is the journal entry required to record the issuance of the shares?

A) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 196,000 & \\\hline \text { Common Stock } - \$ 2 \text { par } & & 14,000 \\\hline \text { Addl. Paid-in Capital in Excess of Par-Common } & & 182,000 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 195,500 & \\\hline \text { Common Stock } - \$ 2 \text { par } & & 13,500 \\\hline \text { Addl. Paid-in Capital in Excess of Par-Common } & & 182,000 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 195,500 & \\\hline \text { Common Stock } - \$ 2 \text { par } & & 2,800 \\\hline \text { Addl. Paid-in Capital in Excess of Par-Common } & & 192,700 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 195,500 & \\\hline \text { Common Stock } - \$ 2 \text { par } & & 14,000 \\\hline \text { Addl. Paid-in Capital in Excess of Par-Common } & & 181,500 \\\hline\end{array}$$