Nebraska Inc. issues 3,050 shares of common stock for $97,600. The stock has a stated value of $11 per share. The journal entry for the stock issuance would include a credit to Common Stock for
Nebraska Inc. issues 3,050 shares of common stock for $97,600. The stock has a stated value of $11 per share. The journal entry for the stock issuance would include a credit to Common Stock for
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 6EB: Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first...
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Nebraska Inc. issues 3,050 shares of common stock for $97,600. The stock has a stated value of $11 per share. The
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Step 1
The journal entry for stock issuance is represented as:
Cash - (Dr)
Common Stock - (Cr.)
Paid in Capital in excess to par value - (Cr.)
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