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skelet666 [1.2K]
3 years ago
6

A corporation sold 14,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this tr

ansaction would include: A credit to Paid-in Capital in Excess of Par Value, Common Stock for $42,000. A debit to Cash for $140,000. A credit to Common Stock for $182,000. A credit to Cash for $182,000.
Business
1 answer:
kvv77 [185]3 years ago
3 0

Answer:

B) A credit to common stock for $ 140,000

Explanation:

Journal Entry will include:

Date  Journal Entry                                  Debit        Credit

          Cash/Bank A/C                            $182,000

           (14,000 shares*$13)

                  To  Common capital A/C                        $140,000

                  To Contributed capital in excess           $42,000

                   of par value A/C  

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Answer:

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Explanation:

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3 years ago
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