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Kim, Inc. issued 15,000 ordinary shares with a stated value of 100/share. The total issue of shares sold for 150 per share. The journal
Kim, Inc. issued 15,000 ordinary shares with a stated value of 100/share. The total issue of shares sold for 150 per share. The journal entry to record this transaction would include a a. debit to Cash for 1,500,000. b. credit to Share Capital-Ordinary for 1,500,000. c. debit to Share Premium-Ordinary for 750,000. d. credit to Share Capital-Ordinary for 2,250,000.
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
