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ArbitrLikvidat [17]
2 years ago
12

A company issued 70 shares of $30 par value preferred stock for $4,000 cash. The journal entry to record the issuance is:______.

Business
1 answer:
PtichkaEL [24]2 years ago
7 0

Answer:

E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.

Explanation:

Journal Entry for Issuance of 70 shares of $30 par value preferred stock for $4,000 is -

Cash Debited -  $4,000

Paid in Capital in excess of Par value Credited -  $1,900

Preferred Stock (70 shares × $30 each) Credited - $2,100

The correct option is - E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.

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Mikkelson Corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk prem
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Answer:

Beta = 2

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Answer:

This is an example of a

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