Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal entry to record the stock issue would include which of the following? Multiple ChoiceA credit to cash for $1,410,000.A credit to common stock for $47,000.A credit to additional paid-in capital for $1,410,000.A credit to additional paid-in capital for $47,000.

The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

Answered: Centex, Inc. issued 47,000 shares of…

Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal entry to record the stock issue would include which of the following?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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