Rebel Inc.issued 3,000 no-par ordinary shares with a stated value of $3 per share.The market price of the shares on the date of issuance was $12 per share.The entry to record this transaction includes a
A) debit to Cash for $9,000.
B) credit to Share Capital-Ordinary for $36,000.
C) credit to Share Capital-Ordinary for $9,000.
D) debit to Share Premium-Ordinary for $36,000.
Correct Answer:
Verified
Q81: Double taxation means that
A) the earnings of
Q84: If a company issues par-value ordinary shares,
Q84: If shares are issued for less than
Q101: A corporation purchases 20,000 shares of its
Q102: S. Lawyer performed legal services for
Q102: In the financial statements, organization costs appears
A)
Q104: The following data is available for BOX
Q106: Kim, Inc.issued 8,000 ordinary shares with a
Q107: The following data is available for
Q108: Rancho Corporation sold 200 treasury shares for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents