Lurvey Company is authorized to issue 50,000 shares of $25 par ordinary share. On May 30, 20X6,

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Lurvey Company is authorized to issue 50,000 shares of $25 par ordinary share. On May 30, 20X6, Lurvey issued 20,000 shares at $45 per share. Lurvey’s journal entry to record these facts should include a

a. credit to ordinary shares for $500,000.

b. debit to ordinary shares for $900,000.

c. credit to Paid-in Capital in Excess of Par for $900,000.

d. both a and c.

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Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

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Question Posted: Jul 26, 2024 05:01 AM

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Lurvey Company is authorized to issue 50,000 shares of $25 par ordinary share. On May 30, 20X6,

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Financial Accounting International Financial Reporting Standards

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