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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Accounting And Finance For Non Specialists
Authors: Eddie McLaney, Peter Atrill
2nd Edition
0135717469, 9780135717462
