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Lisa [10]
2 years ago
14

Eagle Ridge, inc. issued 40 shares of $20 par value stock to its accountant in full payment for her $900 fee for assisting in se

tting up the new company. The entry for the issuance of the stock is a
a. debit to paid-in capital in excess of Par-Common for $100
b. debit to Common Stock for $800
c. credit to Common Stock for $800
d. credit to Common Stok for $900
Business
1 answer:
Harlamova29_29 [7]2 years ago
6 0

The journal entry for the issuance of the stock for issue of 40 shares at a par value of $20, will affect a credit to Common Stock for $800.

<h3>What is a journal entry?</h3>

The process of maintenance of systematic and chronological records of financial transactions during a given financial period is known as a journal entry.

Hence, option C holds true regarding the journal entry.

Learn more about journal entry here:

brainly.com/question/20421012

#SPJ1

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zloy xaker [14]

Answer:

Assets = Liabilities + Owner’s Equity (Capital – Drawing + Revenues – Expenses) = $17,017

Explanation:

Note: See the attached xlsx file for the effect of each transaction on the individual accounts of the expanded accounting equation and the report of the total of each element.

In the attached xlsx file, transaction (c) is treated in such a way that the insurance for the month of October 20—is accounted for under the following:

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Download xlsx
8 0
3 years ago
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Answer:

A. True

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mr Goodwill [35]

Answer:

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