Question 27 Novak Corp issued 1200 shares of no par common stock for $7200 Which of the following journal entries would be made if the stock has stated value of $2 per share Cash 7200 Common Stock 2400 Paid in Capital in Excess of Par 4800 Cash 7200 Common Stock 7200 Common Stock 7200 Cash 7200 Cash 7200 Common Stock 2400 Paid in Capital in Excess of Stated Value 4800

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Question 27 Novak Corp. issued 1200 shares of no-par common stock for $7200. Which of the following journal entries would be made if the stock

Question 27

Novak Corp. issued 1200 shares of no-par common stock for $7200. Which of the following journal entries would be made if the stock has stated value of $2 per share?

Cash		7200
	Common Stock		2400
	Paid-in Capital in Excess of Par		4800

Cash		7200
	Common Stock		7200

Common Stock		7200
	Cash		7200

Cash		7200
	Common Stock		2400
	Paid-in Capital in Excess of Stated Value		4800

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