Which of the following would be included in the entry to record the issuance of 5,000 shares of $10 par value common stock at $13 per share cash?
A) Cash would be debited for $65,000.
B) Common stock would be debited for $50,000.
C) Common stock would be credited for $65,000.
D) Paid-in capital in excess of par-common would be debited for $5,000.
Correct Answer:
Verified
Q40: Which of the following represents one of
Q41: No gains or losses are ever recorded
Q42: Osbourne Company issued 50,000 shares of common
Q43: Lerner Company had the following transactions in
Q44: Peterson Company issued 4,000 shares of preferred
Q46: Chaney Corporation issued 20,000 shares of common
Q47: The following information is from the
Q48: Osbourne Company issued 50,000 shares of common
Q49: Dallkin Corporation issued 5,000 shares of common
Q50: Bradley Corporation issued 10,000 shares of common
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