Question
XYZ Company issued 2,000 shares of common stock at $60 per share. The stock issuance costs amounted to $3,000. Requirements: a. Prepare the journal entry
XYZ Company issued 2,000 shares of common stock at $60 per share. The stock issuance costs amounted to $3,000. Requirements: a. Prepare the journal entry to record the issuance of common stock by XYZ Company. b. Calculate the total amount of cash received from the issuance. c. Record the common stock account. d. Determine the amount of stock issuance costs to be capitalized.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
