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Please help with the following questions, thank you! A corporation sold 26,000 shares of its $1 par value common stock at a cash price of
Please help with the following questions, thank you!
A corporation sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be: Debit Cash \$312,000; credit Common Stock \$26,000; credlt Pald-In Capltal in Excess of Par Value, Common \$tock \$284,000. Deblt Cash for \$312,000; credtt Common Stock \$312,000. Debit Common Stock \$26,000; debit Pald-In Capital In Excess of Par Value, Cammon Stock \$2186,000; credit Cash \$312,000. Deblt Cash \$312,000; credit Stock Llabilty \$286,000; credlt Comman Stock \$26,000. Debit Common Stock $26,000, credt Cach $26,000. Question 2 A company issued 60 shares of $100 par value common stock for $12,000 cash. The total amount of paid-in capital in excess of par is: $100. $000. $1,000. $6,000. $7,000. Question 3 $10,250. $14,425. $7,125. $7,500. $11,250Step by Step Solution
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