Question
Assume that instead of 2 par value shares, Hydro-Slide SA has 5 stated value no-par shares and the company issues 8,000 shares at 7 per
Assume that instead of €2 par value shares, Hydro-Slide SA has €5 stated value no-par shares and the company issues 8,000 shares at €7 per share for cash. The journal entry is:
a.
Cash (Dr) €56,000
Share Capital-Ordinary (Cr) €40,000
Share Premium-Ordinary (Cr) €16,000
b.
Cash (Dr) €56,000
Share Premium-Ordinary (Cr) €56,000
c.
Cash (Dr) €56,000
Share Premium-Ordinary (Cr) €40,000
Share Capital-Ordinary (Cr) €16,000
d.
Cash (Dr) €56,000
Share Capital-Ordinary (Cr) €56,000
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Accounting What the Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
11th edition
1259535312, 978-1259535314
