Allridge Corporation received cash from issuing 26,000 shares of common stock at $5 per share on January 1, 2018. The stock has a par value of $1 per share. Which is the correct journal entry to record this transaction? O A. Common Stock - $1 Par Value Paid - in Capital in Excess of Par - Common Cash O B. Common Stock - $1 Par Value Paid - in Capital in Excess of Par Cash OC. Cash Common Common Stock $1 Par Value Paid - in Capital in Excess of Par - Common O D. Cash Common Stock - $1 Par Value Paid - in Capital in Excess of Par - Common 104,000 26,000 26,000 104,000 130,000 130,000 130,000 130,000 104,000 26,000 26,000 104,000
Allridge Corporation received cash from issuing 26,000 shares of common stock at $5 per share on January 1, 2018. The stock has a par value of $1 per share. Which is the correct journal entry to record this transaction? O A. Common Stock - $1 Par Value Paid - in Capital in Excess of Par - Common Cash O B. Common Stock - $1 Par Value Paid - in Capital in Excess of Par Cash OC. Cash Common Common Stock $1 Par Value Paid - in Capital in Excess of Par - Common O D. Cash Common Stock - $1 Par Value Paid - in Capital in Excess of Par - Common 104,000 26,000 26,000 104,000 130,000 130,000 130,000 130,000 104,000 26,000 26,000 104,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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