Pina Colada Corp Is Authorized To Issue 10000 Shares Of 8 100 Par Value Preferred Stock And 560000 Shares Of No Par 1 (24.98 KiB) Viewed 59 times
Pina Colada Corp Is Authorized To Issue 10000 Shares Of 8 100 Par Value Preferred Stock And 560000 Shares Of No Par 2 (13.53 KiB) Viewed 59 times
Pina Colada Corp. is authorized to issue 10000 shares of 8%, $100 par value preferred stock and 560000 shares of no-par common stock with a stated value of $1. per share. If Pina Colada issues 10000 shares of common stock to pay its recent attorney's bill of $56000 for legal services on a land access dispute, which of the following would be the best journal entry for Pina Colada to record? Legal Expense 56000 Common Stock 10000 Paid-in Capital in Excess of Par value - Common 46000 Legal Expense 56000 Common Stock 56000 Legal Expense 56000 Common Stock 10000 Paid-in Capital in Excess of Stated Value Common 46000
Legal Expense 56000 Common Stock 56000 Legal Expense 56000 Common Stock 10000 46000 Paid-in Capital in Excess of Stated Value Common Legal Expense 10000 Common Stock 10000
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