ABC Corporation issued no-par common stock to its investors for $125,000. The journal entry to record this transaction includes a ________.
A) debit to Investments
B) credit to Revenue
C) credit to Common Stock
D) debit to Expense

Question

Quizplus · Accepted Answer

The issuance of no-par common stock for cash is recorded by crediting the Common Stock account to reflect the increase in equity.

ABC Corporation Issued No-Par Common Stock to Its Investors for $125,000