Question
Noel Inc. issued 7,000 no-par ordinary shares with a stated value of $3 per share. The market price of the shares on the date of
Noel Inc. issued 7,000 no-par ordinary shares with a stated value of $3 per share. The market price of the shares on the date of issuance was $12 per share. The entry to record this transaction includes a
a. debit to Share PremiumOrdinary for $84,000.
b. debit to Cash for $21,000.
c. credit to Share CapitalOrdinary for $21,000.
d. credit to Share CapitalOrdinary for $84,000.
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Corporate Financial Reporting In A Competitive Economy (RLE Accounting)
Authors: Herman W. Bevis
1st Edition
1138966819, 9781138966819
