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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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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