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Roberts Company's common stock has a $2 stated value per share. The company issued 3,000 shares at $8 per share on January 30 of the current year. Which is the correct journal entry to record this transaction? O Cash 24,000 Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common O Common Stock - $2 Stated Value Cash O Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common Cash O Cash Common Stock-$2 Stated Value 24,000 6,000 18,000 24,000 6,000 18,000 24,000 24,000 24,000

Roberts Company's common stock has a $2 stated value per share. The company issued 3,000 shares at $8 per share on January 30 of the current year. Which is the correct journal entry to record this transaction? O Cash 24,000 Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common O Common Stock - $2 Stated Value Cash O Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common Cash O Cash Common Stock-$2 Stated Value 24,000 6,000 18,000 24,000 6,000 18,000 24,000 24,000 24,000

FINANCIAL ACCOUNTING
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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Roberts Company's common stock has a $2 stated value per share. The company issued 3,000 shares at $8 per share on January 30 of the current year. Which is the correct journal entry to record this transaction? Cash 24,000 Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common Common Stock - $2 Stated Value Cash Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common Cash Cash Common Stock - $2 Stated Value 24,000 6,000 18,000 24,000 6,000 18,000 24,000 24,000 24,000
Transcribed Image Text:Roberts Company's common stock has a $2 stated value per share. The company issued 3,000 shares at $8 per share on January 30 of the current year. Which is the correct journal entry to record this transaction? Cash 24,000 Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common Common Stock - $2 Stated Value Cash Common Stock - $2 Stated Value Paid-in Capital in Excess of Stated - Common Cash Cash Common Stock - $2 Stated Value 24,000 6,000 18,000 24,000 6,000 18,000 24,000 24,000 24,000
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