Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 11 when a company sells its common stock

QUESTION 11 When a company sells its common stock (10,000 shares of $10 par stock)...

90.2K

Verified Solution

Question

Accounting

image

QUESTION 11 When a company sells its common stock (10,000 shares of $10 par stock) for $100,000, the transaction is recorded as follows: O Debit Stock Investment $100,000 and credit Accounts Receivable $100,000. O Debit Accounts Receiveable $100,000, credit Common Stock $10,000 and credit paid in capital $90,000 O Debit Retained Earnings $100,000 and credit Preferred Stock $100,000 O Debit Cash $100,000 and credit Common Stock $100,000

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

Statistics
1.2K views

Questions 15-18: A multiple regression model was run on a sample of 150 high school students...

General Management
1.2K views

Colonel H. Wayne Wolfe led a squadron of software developers, most of whom were relatively young...

Physics
1.2K views

O terminal voltage When I current is drawn from cell then terminal voltage V is...

Physics
1.2K views

A capacitor of capacitance C is charged to V D potential The positive plate of...

Geometry
1.2K views

ections Given the side lengths determine wheth 1 15 16 21 Not a A Acute...

Basic Math
1.2K views

1 23 P L LLL Let an be a bounded sequence of complex numbers Show...

Basic Math
1.2K views

Assuming that the annual rate of inflation averages 3 over the next 15 years the...

Basic Math
1.2K views

What is the vertex form of the equation?y=-x + 12x-4

Accounting
1.2K views

I need help with requirement 2. Academy Press produces textbooks for high school accounting...

Accounting
1.2K views

Distinguish between selling expenses and general and administrative expenses.

Accounting
1.2K views

Rios Financial Co. is a regional insurance company that began operations on January 1, Year...

Finance
1.2K views

7. The search time for a particular search term on Google is defined by the...