South Beach Apparel issued 15,000 shares of $2 par value stock for $10 per share. What is true about the journal entry to record the issuance? Multiple Choice Credit Common Stock $150,000 Debit Common Stock $30,000 Credit Additional Paid-In Capital $120,000 Credit Cash $150,000
South Beach Apparel issued 15,000 shares of $2 par value stock for $10 per share. What is true about the journal entry to record the issuance? Multiple Choice Credit Common Stock $150,000 Debit Common Stock $30,000 Credit Additional Paid-In Capital $120,000 Credit Cash $150,000
Chapter1: Financial Statements And Business Decisions
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![South Beach Apparel issued 15,000 shares of $2 par value stock for $10 per share. What is true about the journal entry to record the issuance?
Multiple Choice
Credit Common Stock $150,000
Debit Common Stock $30,000
Credit Additional Paid-In Capital $120,000
Credit Cash $150,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8aeb4c9c-8d33-4b47-954d-a4d3ce02aa40%2Fc08cb53b-10fc-42c7-8c23-7315405c6701%2F0ljtikum.png&w=3840&q=75)
Transcribed Image Text:South Beach Apparel issued 15,000 shares of $2 par value stock for $10 per share. What is true about the journal entry to record the issuance?
Multiple Choice
Credit Common Stock $150,000
Debit Common Stock $30,000
Credit Additional Paid-In Capital $120,000
Credit Cash $150,000
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