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Solanki Corp. issued 100,000 shares of previously unissued stock with a par value of $1. The selling price for the stock was $51. The
Solanki Corp. issued 100,000 shares of previously unissued stock with a par value of $1. The selling price for the stock was $51. The journal entry for the stock would include: O Cr. Common Stock for $5,100,000 O Cr. Capital in Excess of par for $5,100,000 O Dr. Cash for $100,000 O Cr. Capital in Excess of Par for $5,000,000
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