Question
Quiche & Tell, Inc., is authorized to sell 2,000,000, $3 par value common stock. On May 3, it issued 60,000 at $11 each. The journal
Quiche & Tell, Inc., is authorized to sell 2,000,000, $3 par value common stock. On May 3, it issued 60,000 at $11 each. The journal entry to record the issuance of this stock includes a ______. (Select all that apply.)
| debit Cash $22,000,000 | ||
| credit Common Stock $660,000 | ||
| debit Common Stock $22,000,000 | ||
| credit Paid-in Capital in Excess of Par $480,000 | ||
| credit Common Stock $180,000 | ||
| credit Common Stock $22,000,000 | ||
| debit Cash $660,000 | ||
| credit Cash $660,000 |
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
