A corporation sold 9,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction. would include: Multiple Choice A debit to Cash for $90,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $117,000. A credit to Common Stock for $117,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $207,000. A credit to Common Stock for $90,000.
A corporation sold 9,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction. would include: Multiple Choice A debit to Cash for $90,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $117,000. A credit to Common Stock for $117,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $207,000. A credit to Common Stock for $90,000.
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 12MC: A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting...
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![A corporation sold 9,000 shares of
its $10 par value common stock at
a cash price of $13 per share. The
entry to record this transaction.
would include: Multiple Choice A
debit to Cash for $90,000. A debit
to Paid-in Capital in Excess of Par
Value, Common Stock for
$117,000. A credit to Common
Stock for $117,000. A credit to
Paid-in Capital in Excess of Par
Value, Common Stock for
$207,000. A credit to Common
Stock for $90,000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F77485630-f2c4-40a4-81d7-ace1bbec656d%2Fda195332-4286-49d6-b022-303afa1b6b2b%2Ffxznyys_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A corporation sold 9,000 shares of
its $10 par value common stock at
a cash price of $13 per share. The
entry to record this transaction.
would include: Multiple Choice A
debit to Cash for $90,000. A debit
to Paid-in Capital in Excess of Par
Value, Common Stock for
$117,000. A credit to Common
Stock for $117,000. A credit to
Paid-in Capital in Excess of Par
Value, Common Stock for
$207,000. A credit to Common
Stock for $90,000.
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