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National Spirit Inc. issues 320,000 common shares for $13 per share. The journal entry is: O A Cash 4,160,000 Common Shares 640,000 3,520,000 Contributed Surplus
National Spirit Inc. issues 320,000 common shares for $13 per share. The journal entry is: O A Cash 4,160,000 Common Shares 640,000 3,520,000 Contributed Surplus on Common Shares OB Cash 4,160,000 Common Shares 4,160,000 OC. Cash 320,000 Common Shares 320,000 OD Cash 4,160,000 Common Shares 320,000 Gain on the Sale of Shares 3,840,000
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