Question
Tatro, Inc., issued for $60 per share 4,000 shares of $45 par value common stock. The journal entry to record this transaction is: Select one:
Tatro, Inc., issued for $60 per share 4,000 shares of $45 par value common stock.
The journal entry to record this transaction is:
Select one:
A.
Cash | 240,000 |
Common Stock | 240,000 |
B.
Cash | 240,000 |
Common Stock | 180,000 | ||
Paid-in Capital in Excess of Par Value | 60,000 |
C.
Cash | 240,000 |
Common Stock | 180,000 | ||
Retained Earnings | 60,000 |
D.
Cash | 240,000 |
Common Stock | 180,000 | ||
Gain on Sale of Stock | 60,000 |
E.
Cash | 240,000 |
Common Stock | 180,000 | ||
Gain on Sale of Stock | 60,000 |
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
