Question
Powerdrive Corporation issued 2,000 shares of its $10 par value common stock for $70,000. Powerdrive also incurred $1,500 of costs associated with issuing the stock.
Powerdrive Corporation issued 2,000 shares of its $10 par value common stock for $70,000. Powerdrive also incurred $1,500 of costs associated with issuing the stock. Prepare Powerdrives journal entry to record the issuance of the companys stock.
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
IFRS Edition
978-1118443965, 1118800532, 9781118800539, 978-0470873991
