Question
When a company issues 34,000 shares of $3 par value common stock for $30 per share, the journal entry for this issuance would include: A
| When a company issues 34,000 shares of $3 par value common stock for $30 per share, the journal entry for this issuance would include: |
A debit to Cash for $102,000
A debit to Additional Paid-in Capital for $102,000
A credit to Common Stock for $1,020,000
A credit to Additional Paid-in Capital for $918,000
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Monitoring And Auditing Practices For Effective Compliance
Authors: John E. Steiner
2nd Edition
0977843017, 978-0977843015
