Concord, Inc. issued 9800 shares of stock at a stated value of $7/share. The total issue of stock sold for $12 per share. The journal entry to record this transaction would include a O credit to Paid-in Capital in Excess of Par for $117600. O credit to Common Stock for $68600. debit to Cash for $68600. O credit to Common Stock for $117600.

Concord, Inc. issued 9800 shares of stock at a stated value of $7/share. The total issue of stock sold for $12 per share. The journal entry to record this transaction would include a O credit to Paid-in Capital in Excess of Par for $117600. O credit to Common Stock for $68600. debit to Cash for $68600. O credit to Common Stock for $117600.

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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