Question
A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following?
A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following?
a credit to common stock
a credit to cash
a debit to paid-in capital in excess of preferred stock
a debit to cash
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
IFRS edition volume 2
978-0470613474, 470613475, 978-0470616314
