Question
ABC Inc. issued 10,000 shares of $1 par value stock for $5 per share. What is true about the journal entry to record the issuance?
ABC Inc. issued 10,000 shares of $1 par value stock for $5 per share. What is true about the journal entry to record the issuance?
| Debit Common Stock $10,000.
| ||
| Credit Cash $50,000. | ||
| Credit Common Stock $50,000. | ||
| Credit Additional Paid-In Capital $40,000. |
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Accounting An Essential Guide To Learning Accounting Quickly
Authors: Greg Shields
1st Edition
1978341873, 978-1978341876
