Question

chegg at the beginning of the period, a company reported $100,000 of common stock, $10 par; and $50,000 paid-in capital in excess of par. at the end of the period, this company reported $110,000 of common stock, $10 par; and $90,000 paid-in capital in excess of par. cash received from the sale of common stock during the year is $ .

Answer 1

Cash received from the sale of common stock during the year is $50,000

Cash received from the Sale of Common stock during the year is

= (End of period common stock - Beginning of the period common stock) + (End of period paid-in capital in excess of par - Beginning of the period paid-in capital in excess of par)

= (110,000 - 100,000) + (90,000 - 50,000)

= 10,000 + 40,000

= 50,000 $

What is Cash receipt?

• A cash receipt is a printed acknowledgement of the amount of cash received during a transaction involving the transfer of cash or cash equivalent.
• The vendor gives the consumer the original copy of the cash receipt, keeping the other copy for accounting needs.
• An accounting item called a cash receipt certifies the acquisition of cash from a customer. On the balance sheet of the corporation, cash receipts normally raise (debit) the cash balance.
• Simultaneously, they decrease (credits) either accounts receivable or another asset account.
• No matter the industry, all businesses need cash receipts. A business can better track its revenue and costs by precisely recording cash deposits.

To know more about Cash receipt example visit:

brainly.com/question/13869337

#SPJ4