Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help! a company issued 60 shares of $100

please help! A company issued 60 shares of $100 par value common...

60.1K

Verified Solution

Question

Accounting

please help! image
A company issued 60 shares of $100 par value common stock for $7,800 cash. The journal entry to record the issuance is: Multiple Choice Debit Cash \$7,800; credit Common Stock $7,800. Debit Investment in Common Stock $7,800; credit Cash $7,800. Debit Cash \$7,800; credit Paid-in Capital in Excess of Par Value, Common Stock \$6,000, credit Common Stock $1,800. Debit Common Stock $6,000, debit investment in Common Stock $1,800; credit Cash \$7,800. Debit Cash $7,800; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common $tock$1,800

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