The entry to record the issuance of common stock for fully paid stock subscriptions is
A) a memorandum entry.
B) Common Stock Subscribed,Common Stock Additional Paid-In Capital.
C) Common Stock Subscribed,Subscriptions Receivable.
D) Common Stock Subscribed,Common Stock.

Question

Quizplus · Accepted Answer

When common stock is issued for fully paid stock subscriptions, the entry involves debiting "Common Stock Subscribed" and crediting "Common Stock" to reflect the transition from subscribed to issued stock.

The Entry to Record the Issuance of Common Stock for Fully