Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. suppose value home and garden imports issued 400,0

Suppose Value Home and Garden Imports issued 400,000 shares of $0.10 par common stock at...

60.1K

Verified Solution

Question

Accounting

Suppose Value Home and Garden Imports issued 400,000 shares of $0.10 par common stock at $4 per share. Which journal entry correctly records the issuance of this stock?

image

Debit Credit 1,600,000 40,000 1,560,000 1,600,000 Date Accounts and Explanation a. Common Stock-$0.10 Par Value Cash Paid-In Capital in Excess of ParCommon b. Common Stock$0.10 Par Value Cash c. Cash Common Stock-$0.10 Par Value Paid-In Capital in Excess of ParCommon d. Cash Common Stock$0.10 Par Value 1,600,000 1,600,000 40,000 1,560,000 1,600,000 1,600,000

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

Basic Math
1.2K views

1 point What are the remaining zeros for the P x 5x 4 2x 3...

Electrical Engineering
1.2K views

how the attenuation affects the maximum fiber length of communication links. Also explain how the index...

General Management
1.2K views

Part 1: Based on the reading of assigned material and your understanding of leadership phenomenon, identify...

Accounting
1.2K views

Controllership in Accounting Topic:   Revenue & Misrepresentation by Clients Characters: Rachel Hanson, Senior in CPA firm Jim Thompson, Owner/manager...

Geometry
1.2K views

3 6 9 1 12 Question 6 1 point Based on the measures provided in...

Calculus
1.2K views

Evaluate the indefinite integral 26x

Algebra
1.2K views

Solve the equation for the given variable If your answer is a fraction write it...

Algebra
1.2K views

List the potential rational zeros of the polynomial function Do not attempt to find the...

Accounting
1.2K views

Planner Corporation owns 70 percent of Schedule Companys voting shares. During 20X3, Planner produced 27,000...

Accounting
1.2K views

A commercial bldg. can be acquired at a down payment of P500,000 and a yearly...

Accounting
1.2K views

Sustainability is much associated to the Corporate Social Responsibility (CSR) Sustainability is much associated with...

Accounting
1.2K views

You have the opportunity to purchase an investment that pays $437 a month for 17...