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Multiple Choice Question 102 Swifty Company is authorized to issue 10200 shares of 9%, $100 par value preferred stock and 470000 shares of no-par common
Multiple Choice Question 102 Swifty Company is authorized to issue 10200 shares of 9%, $100 par value preferred stock and 470000 shares of no-par common stock with a stated value of $1 per share. If Swifty issues 9200 shares of common stock to pay its recent attorney's bill of $38000 for legal services on a land access dispute, which of the following would be the journal entry for Swifty to record? Organization Expense 38000 Common Stock 9200 Paid-in Capital in Excess of Stated Value Common 28800 Organization Expense 9200 Common Stock 9200 O Organization Expense 38000 Common Stock 9200 28800 Paid-in Capital in Excess of Par Preferred Organization Expense 38000 Common Stock 38000 Click if you would like to Show Work for this question: Open Show Work
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