17. When a company issues 25,000 shares of $1 par value common stock for $10 per share, thejournal entry for this issuance would include:A debit to Cash for $25,000.A.B.C.D.A debit to Additional Paid-in Capital for $25,000.A credit to Common Stock for $250,000.A credit to Additional Paid-in Capital for $225,000.

Explanation : Cash (25,000*10) 250,000 Common stock (25,000*1) 25,000 Additional paid in capital 225,000 ANSWER : D)A credit to Additional Paid-in Capital for $22, 5000

Answered: 17. When a company issues 25,000 shares…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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