Caesar Cruise Lines, Inc. issues 6000 shares of common stock with a $1 par value. The issue price of the stock is $20 per share. What is the journal entry required to record the issuance of the shares? Group of answer choices Cash 120,000 Common Stock—$1 par 6000 Addl. Paid-in Capital in Excess of Par—Common 114,000 Cash 20,000 Common Stock—$1 par 6000 Addl. Paid-in Capital in Excess of Par—Common 14,000 Cash 6000 Common Stock 6000 Cash 120,000 Common Stock 120,000
Caesar Cruise Lines, Inc. issues 6000 shares of common stock with a $1 par value. The issue price of the stock is $20 per share. What is the journal entry required to record the issuance of the shares? Group of answer choices Cash 120,000 Common Stock—$1 par 6000 Addl. Paid-in Capital in Excess of Par—Common 114,000 Cash 20,000 Common Stock—$1 par 6000 Addl. Paid-in Capital in Excess of Par—Common 14,000 Cash 6000 Common Stock 6000 Cash 120,000 Common Stock 120,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Caesar Cruise Lines, Inc. issues 6000 shares of common stock with a $1 par value. The issue price of the stock is $20 per share. What is the journal entry required to record the issuance of the shares?
Group of answer choices
| Cash | 120,000 | |
| Common Stock—$1 par | | 6000 |
| Addl. Paid-in Capital in Excess of Par—Common | | 114,000 |
| Cash | 20,000 | |
| Common Stock—$1 par | | 6000 |
| Addl. Paid-in Capital in Excess of Par—Common | | 14,000 |
| Cash | 6000 | |
| Common Stock | | 6000 |
| Cash | 120,000 | |
| Common Stock | | 120,000 |
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