Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 8.a1 merchandising company issued 900 shares of no

8.A1 Merchandising Company issued 900 shares of no-par common stock for $17,100....

80.2K

Verified Solution

Question

Accounting

8.A1 Merchandising Company issued 900 shares of no-par common stock for $17,100. Which of
the following journal entries would be made if the stock has no stated value?
a. Cash
b. Cash
c. Cash
Common Stock
Paid-in Capital in Excess of Stated Value
d. Common Stock
Cash
17,100
17,100
17,100
900
16,200
17,100
900
16,200
17,100
17,100
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students