Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. entity h issued 4,000 shares of its $2 par value c

Entity H issued 4,000 shares of its $2 par value common stock for $15 per...

60.1K

Verified Solution

Question

Accounting

image

Entity H issued 4,000 shares of its $2 par value common stock for $15 per share. Which of the following statements is correct? Hint: Make the journal entry first. Cash should be credited for $60,000 Common stock should be credited for $8,000. Common stock should be credited for $60,000. Paid-in-capital-in-excess-of-par-value should be debited for $52,000

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

Medical Sciences
1.2K views

which of the followinf regarding nk cells is false? a.nk cells are a type of neutrophil b.nk...

Basic Math
1.2K views

A drapery store manager was interested in determining whether a new employee can install vertical blinds...

Biology
1.2K views

W E B Du Bois founded the O Niagara Movement O Democratic Party O American...

Physics
1.2K views

In the resistor network shown in the figure all the resistors are identical and each...

Geometry
1.2K views

A triangle on a sphere could have O A 175 OB any number of O...

Geometry
1.2K views

Find all missing side lengths and angle measures of the figures below Parallelogram Rectangle 71...

Accounting
1.2K views

The most effective means of ensuring source deductions are remitted accurately is to: reconcile...

Accounting
1.2K views

Description Derivative 1. A forward-based, exchange-traded agreement to make delivery of a specified quantity of...

Accounting
1.2K views

Which of the following ordinarily involves the addition of an emphasis-of-matter paragraph to an audit...

Accounting
1.2K views

Which organization is responsible for overseeing the auditing of public companies that are subject to...

Accounting
1.2K views

Voce Question OPLEVEL ROLAND 12 416 Voce Question OPLEVEL ROLAND 12 416

Finance
1.2K views

ADR Math: You have invested $100 based on these numbers: Banco Naranja Local Share Price...