Question
Liberward, Inc., sold and issued 1,000 shares for $15 per share. The book value of the shares was $10 per share. The journal entry to
Liberward, Inc., sold and issued 1,000 shares for $15 per share. The book value of the shares was $10 per share. The journal entry to record the share issue would include which of the following?
A). A debit to Cash for $10,000.
B). A credit to Common Shares for $10,000.
C). A credit to Common Shares for $15,000.
D). A credit to Cash for $15,000
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Introduction to Corporate Finance What Companies Do
Authors: John Graham, Scott Smart
3rd edition
9781111532611, 1111222282, 1111532613, 978-1111222284
