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Percy Corporation was formed on January 1 . The corporate charter authorized 1 0 0 , 0 0 0 shares of $ 1 0 par
Percy Corporation was formed on January The corporate charter authorized shares of $ par value common stock. During the first month of operation, the corporation issued shares to its attorneys in payment of a $ charge for drawing up the articles of incorporation. The entry to record this transaction would include: Multiple Choice A credit to Common Stock for $ A debit to Paidin Capital in Excess of Par Value, Common Stock for $ A debit to Organization Expenses for $ A debit to Organization Expenses for $ A credit to Paidin Capital in Excess of Par Value, Common Stock for $
Percy Corporation was formed on January The corporate charter authorized shares of $ par value common stock. During the first month of operation, the corporation issued shares to its attorneys in payment of a $ charge for drawing up the articles of incorporation. The entry to record this transaction would include:
Multiple Choice
A credit to Common Stock for $
A debit to Paidin Capital in Excess of Par Value, Common Stock for $
A debit to Organization Expenses for $
A debit to Organization Expenses for $
A credit to Paidin Capital in Excess of Par Value, Common Stock for $
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