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.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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.

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