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