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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Basic Accounting Concepts Principles And Procedures Volume 1
Authors: Gregory Mostyn, Worthy And James
2nd Edition
0991423100, 978-0991423101
