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A company issued 50 shares of $100 par value common stock for $7.400 cash. The Journal entry to record the issuance is:
Posted: Mon May 30, 2022 7:57 am
by answerhappygod
- A Company Issued 50 Shares Of 100 Par Value Common Stock For 7 400 Cash The Journal Entry To Record The Issuance Is 1 (21.6 KiB) Viewed 36 times
A company issued 50 shares of $100 par value common stock for $7.400 cash. The Journal entry to record the issuance is: Multiple Choice Debit Cash $7,400, credit Paid-in Capital in Excess of Par Value, Common Stock $5,000, credit Common Stock $2.400. Debit Common Stock $5,000, debit Investment in Common Stock $2,400, credit Cash $7,400. Debit Cash $7,400; credit Common Stock $7,400. Debit Investment in Common Stock $7,400; credit Cash $7,400 Debit Cash $7,400, credit Common Stock $5,000; credit Paid-in Capital in Excess of Par Value, Common Stock $2,400