Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lumpsum of$13,500 The common stock has a market price of $20 per share, and the preferred stock has a market price of S90 per share.Prepare the jourmal entry to record the issuance of the common stockS3 000O CashCommon Stock$3.000O CashCommon StockO CashCommon StockAdditional Paid-n Capital C/SNone of the aboveS6 000$6 000$5 400$3.000$2 400

Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13.500 The common stock has a market price of $20 per share and the preferred stock has a market price of $90 per share. Prepare the joumal entry to record the issuance of the common stock. O Cash Common Stock $3.000 $3.000 O Cash Common Stock $6 000 $6 000 O Cash Common Stock Additional Paid-in Capital C/S $5 400 $3.000 $2 400 O None of the above

Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par value preferred stock for a lump sum of $13.500 The common stock has a market price of $20 per share and the preferred stock has a market price of $90 per share. Prepare the joumal entry to record the issuance of the common stock. O Cash Common Stock $3.000 $3.000 O Cash Common Stock $6 000 $6 000 O Cash Common Stock Additional Paid-in Capital C/S $5 400 $3.000 $2 400 O None of the above

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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