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RST Company issues common stock for 80,000 cash.60,000 of the cash was used to purchase land. As a result of these transactions: a. total assets increased by 20000 b. total assets increased by 80000 c. total assets increased by 140000 d. none Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance? a. Credit Common Stock $300,000. b. Credit Cash $300,000. c. Credit Common Stock $15,000. d. Debit Additional Paid-In Capital $285,000.

RST Company issues common stock for 80,000 cash.60,000 of the cash was used to purchase land. As a result of these transactions: a. total assets increased by 20000 b. total assets increased by 80000 c. total assets increased by 140000 d. none Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance? a. Credit Common Stock $300,000. b. Credit Cash $300,000. c. Credit Common Stock $15,000. d. Debit Additional Paid-In Capital $285,000.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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RST Company issues common stock for 80,000 cash.60,000 of the cash was used to purchase land. As a result of these transactions: a. total assets increased by 20000 b. total assets increased by 80000 c. total assets increased by 140000 d. none Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance? a. Credit Common Stock $300,000. b. Credit Cash $300,000. c. Credit Common Stock $15,000. d. Debit Additional Paid-In Capital $285,000.
Transcribed Image Text:RST Company issues common stock for 80,000 cash.60,000 of the cash was used to purchase land. As a result of these transactions: a. total assets increased by 20000 b. total assets increased by 80000 c. total assets increased by 140000 d. none Jade Jewelers issued 15,000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance? a. Credit Common Stock $300,000. b. Credit Cash $300,000. c. Credit Common Stock $15,000. d. Debit Additional Paid-In Capital $285,000.
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