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In business combination, the combiner paid direct out-of-pocket costs of the business combination, $60,000, and costs of registering and issuing its common stock, $80,000. The
In business combination, the combiner paid direct out-of-pocket costs of the business combination, $60,000, and costs of registering and issuing its common stock, $80,000. The journal entry for payment of the above costs includes:
a.
Debit to paid in capital in excess of par $80,000.
b.
Debit to paid in capital in excess of par $60,000.
c.
Debit to paid in capital in excess of par $140,000.
d.
Debit to investment in common stock of combine $80,000.
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