Question
3pts Hogwarts Corp. issues 5.000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, pedes are made to
3pts Hogwarts Corp. issues 5.000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, pedes are made to Common Stock $50,000 and Retained Earnings $20.000 Common Stock $50.000 and Paid-in Capital in Excess of Stated Value $20.000. Common Stock $50,000 and Paid-in Capital in Excess of Par Value $20,000 Common Stock $70,000 Question 2 3 pts Wolverine Company issued 900 shares of no-par common stock for $17,100. Which of the following journal entries would be made if the stock has no stated value? Cash 17.100 Common Stock No-Par Value 17.100 Common Stock No-Par Value 17,100 Cash 17,100 Cash Common Stock No-Par Value 17.100 900 Paid-in Capital in Excess of Stated Value 16,200. MacBook Air
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started