Question
On January 1, Hiro Corp. issues 1,000 no-par ordinary shares for 15 per share. The shares have a stated value of 5 per share. When
On January 1, Hiro Corp. issues 1,000 no-par ordinary shares for 15 per share. The shares have a stated value of 5 per share. When Hiro prepares the journal entry to record the issuance of the shares which of the following will be recorded?
Select one:
a. Debit Share PremiumOrdinary 15,000.
b. Credit Share PremiumOrdinary 10,000
c. Debit Share CapitalOrdinary 5,000.
d. Credit Share CapitalOrdinary 15,000.
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, Maureen Sterling
7th Canadian Edition
1260065952, 978-1260065954
