A corporation sold 10,000 shares of its no-par common for $10.00 per share.The corporation will not sell its shares for less than $6.00 per share,because this is "necessary" to protect the bondholders.The corporation should record this transaction as follows:
A)Choice 1
B)Choice 2
C)Choice 3
D)Choice 4

Question

A corporation sold 10,000 shares of its no-par common for $10.00 per share.The corporation will not sell its shares for less than $6.00 per share,because this is "necessary" to protect the bondholders.The corporation should record this transaction as follows: 
A)Choice 1 
B)Choice 2 
C)Choice 3 
D)Choice 4

Quizplus · Accepted Answer

The Answer of A corporation sold 10,000 shares of its no-par common for $10.00 per share.The corporation will not sell its shares for less than $6.00 per share,because this is "necessary" to protect the bondholders.The corporation should record this transaction as follows: 
A)Choice 1 
B)Choice 2 
C)Choice 3 
D)Choice 4

A Corporation Sold 10,000 Shares of Its No-Par Common for $10.00