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- A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cashA company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. Which of the following is recorded at the time of the purchase? a. Debit Treasury Stock for $32,000. b. Debit Common Stock for $30,000. c. Debit Common Stock for $32,000. d. Debit Treasury Stock for $2,000.
- Question 3.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated value of P10 per share. The journal entry to record the stock issuance would include a credit to Additional Paid in Capital of? A. P45,000 B. P25.000 C. P20,000 D. P5,000Question 4.) A corporation issues 2,500 shares of common stock for P45,000. The stock has stated value of P10 per share . The journal entry to record the stock issuance would include a credit to Share Capital of? A. P20,000 B. P25,000 C. P45,000 D. P5,000If Dakota Company issues 1,100 shares of $6 par common stock for $24,200, a.Cash will be debited for $6,600. b.Common Stock will be credited for $24,200. c.Paid-In Capital in Excess of Par will be credited for $17,600. d.Paid-In Capital in Excess of Par will be credited for $6,600.
- If a corporation issues 1,000 shares of $1 par value common stock for $12,000, the journalentry would include a credit toa. Common Stock for $1,000.b. Retained Earnings for $1,000.c. Common Stock for $12,000.d. Paid-in Capital in Excess of Par—Common for $12,000.If Dakota Company issues 1,500 shares of $6 par common stock for $75,000, O Common Stock will be credited for $75,000 O Paid-In Capital in Excess of Par will be credited for $9,000 Paid-In Capital in Excess of Par will be credited for $66,000 O Cash will be debited for S66,000What is included in the journal entry to record the repurchase of 300 common shares to hold them in treasury? Assume the average issue price of the outstanding shares is $10. a. A debit to Cash for $3,000 b. A credit to Treasury Shares for $3,000 C. A debit to Common Shares for $300 d. A debit to Common Shares for $3,000
- 2a. A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: A debit to Cash for $110,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $154,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $264,000. A credit to Common Stock for $110,000. A credit to Common Stock for $154,000. 2b. A company issued 150 shares of $100 par value common stock for $17,800 cash. The total amount of paid-in capital in excess of par is: $100. $1,500. $2,800. $15,000. $17,800.17) When a company issues 25,000 shares of $1 par value common stock for $10 per share, the journal entry for this issuance would include: A) A debit to Cash for $25,000. B) A debit to Additional Paid-in Capital for $25,000. C) A credit to Common Stock for $250,000. D) A credit to Additional Paid-in Capital for $225,000.If Dakota Company issues 3,200 shares of $10 par common stock for $57,600, Oa. Cash will be debited for $32,000. Ob. Paid-in Capital in excess of Par Value will be credited for $32,000. Oc. Common Stock will be credited for $57,600. Od. Paid-in Capital in excess of Par Value will be credited for $25,600.