Question
TRANSACTIONS Stock Par Value Stock Market Value Shares Issued Amount billed by attorney for services provided Issued Common Stock to Attorney to pay fees for
| TRANSACTIONS | Stock Par Value | Stock Market Value | Shares Issued | Amount billed by attorney for services provided | ||
| Issued Common Stock to Attorney to pay fees for organzation of Corporation. | $5.00 | $25.00 | 1,000 | $ 28,000 | ||
"Which of the following is (are) true about these transaction? Select only correct statements, incorrect answers are penalized."
| "Credit APIC, Common Stock for $20,000." | ||
| "Credit Common Stock for $25,000." | ||
| Debit Organization Expense for $28,000. | ||
| "Credit APIC Common Stock for $23,000." | ||
| "Credit Common stock for $5,000." | ||
| "Credit APIC, Common Stock for $ 0.00" | ||
| Debit Organization Expense for $25,000.
|
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
9781266566899
