Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which journal entry reflects the following transaction?: BOC sold 10,000 shares of $1 par value stock to investors for $5 per share. a)Dr. Cash 50,000

Which journal entry reflects the following transaction?:

BOC sold 10,000 shares of $1 par value stock to investors for $5 per share.

a)Dr. Cash 50,000

Cr. Common Stock 10,000

Cr. Additional Paid-in Capital 40,000

b)Dr. Cash 10,000

Cr. Common Stock 10,000

c)Dr. Cash 50,000

Cr. Common Stock 50,000

d)Dr. Cash 50,000

Cr. Common Stock 40,000

Cr. Additional Paid-in Capital 10,000

e)Dr. Common Stock 10,000

Dr. Additional Paid-in Capital 40,000

Cr. Cash 50,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Nike Inc Strategic Audit SWOT Pestle Competitor And Financial Analysis

Authors: Bankim Chandra Pandey

1st Edition

1973352516, 978-1973352518

More Books

Students also viewed these Accounting questions