Question
Blue Spruce Corp. issued 900 shares of no-par common stock for $7200. Which of the following journal entries would be made if the stock has
Blue Spruce Corp. issued 900 shares of no-par common stock for $7200. Which of the following journal entries would be made if the stock has stated value of $2 per share?
| Common Stock | 7200 |
| |
|
| Cash |
| 7200 |
| Cash | 7200 |
| |
|
| Common Stock |
| 1800 |
|
| Paid-in Capital in Excess of Stated Value |
| 5400 |
| Cash | 7200 |
| |
|
| Common Stock |
| 1800 |
|
| Paid-in Capital in Excess of Par |
| 5400 |
| Cash | 7200 |
| |
|
| Common Stock |
| 7200 |
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Statistical Techniques For Analytical Review In Auditing
Authors: Kenneth W. Stringer, Trevor R. Stewart
1st Edition
047186076X, 978-0471860761
