Answered step by step
Verified Expert Solution
Question
1 Approved Answer
all of them please Which of the following represents the number of shares actually sold? * Treasury shares Issued shares Outstanding shares Authorized shares Simon
all of them please
Which of the following represents the number of shares actually sold? * Treasury shares Issued shares Outstanding shares Authorized shares Simon Company issued 6,000 shares of its $5 par value common stock in payment of its attorney's bill of $45,000. The bill was for services performed in helping the company incorporate. Simon should record this transaction by debiting Legal Expense for $30,000 Legal Expense for $45,000 Organization Expense for $30,000 Organization Expense for $45,000 A company issues 1,000 shares of $10 stated value common stock at $14 per share. When the transaction is recorded, credits are made to * Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $4,000 Common Stock $14,000 Common Stock $10,000 and Paid-in Capital in Excess of Par Value $4,000 Common Stock $10,000 and Retained Earnings $4,000 If a company issues 1,000 shares of $5 par value common stock for $75,000, the account * Common Stock will be credited for $50,000 Paid-in Capital in Excess of Par Value will be credited for $5,000 Paid-in Capital in Excess of Par Value will be credited for $70,000 Cash will be debited for $65,000 A company issues 10,000 shares of $100 par value preferred stock for cash at $110 per share. The entry to record the transaction will consist of a debit to Cash for $1,100,000 and a credit(s) of * Preferred Stock for $1,100,000 Paid-in Capital from Preferred Stock for $1,100,000 Preferred Stock for $1,000,000 and Retained Earnings for $100,000 Preferred Stock for $1,000,000 and Paid-in Capital in Excess of Par Value-Preferred Stock for $100,000Step 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