South Beach Apparel issued 10,000 shares of $1 par value stock for $5 per share.What is true about the journal entry to record the issuance?
A) Debit Common Stock $10,000.
B) Credit Cash $50,000.
C) Credit Common Stock $50,000.
D) Credit Additional Paid-In Capital $40,000.
Correct Answer:
Verified
Q75: Which of the following financing alternatives has
Q76: If a company issues 1,000 shares of
Q77: Which of the following has the lowest
Q78: The par value of common stock represents:
A)The
Q79: Which of the following is the most
Q81: When treasury stock is acquired,what is the
Q82: When treasury stock is resold at a
Q83: California Adventures issues 5,000 shares of 8%,$100
Q84: The corporation's own stock that has been
Q85: Which of the following statements about treasury
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