Monte Vista uses the perpetual inventory system. At the beginning of the quarter, Monte Vista has $39,000 in inventory. During t
1 answer:
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Answer:
Option B is correct for entry but value is wrong value should be $120
Explanation:
The options provided are not correct, where shares are issued at par value no additional capital is credited.
As the number of shares = 12,000
Par value per share = $0.01
Total par value = $0.01 12,000 = $120
Therefore, issue of shares entry will be
Cash A/c Dr. $120
To Common Stock $120
Thus no option is correct, as for the entry option B is correct but the values are wrong.