Question
A corporation issues 5,000 shares of common stock for $160,000. The stock has a stated value of $15 per share. What amount of credit to
A corporation issues 5,000 shares of common stock for $160,000. The stock has a stated value of $15 per share. What amount of credit to Common Stock would the journal entry to record the stock issuance include?
Select the correct answer.
$75,000
$85,000
$5,000
$160,000
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Proli Footwear Inc An Audit And Fraud Simulation For Team-Based Student Learning
Authors: Patricia Poli, Richard Proctor
2nd Edition
0615455492, 978-0615455495
