Answer:
Explanation:
Common Stock
Debit Credit
To ending balance $115,000.00 By Beginning balance $112,000.00
By Cash Received $3,000.00
Total $115,000.00 Total $115,000.00
Paid-in capital in excess of par
Debit Credit
To ending balance $579,000.00 By Beginning balance $348,000.00
By Cash Received $231,000.00
Total $579,000.00 Total $579,000.00
Therefore, Cash received from issue of common stock = $3,000 + $231,000 = $234,000
