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The journal entry to issue 1,000,000 shares of $6 par common stock for $6.00 per share on January 2nd would be: Jan 2 Cash 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Common Stock 8,000,000 O Jan 2 Cash 1,000,000 Common Stock 1,000.000 Jan 2 Cash 8,000,000 Common Stock 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Jan 2 Cash 6,000,000 Common Stock 6,000,000

The journal entry to issue 1,000,000 shares of $6 par common stock for $6.00 per share on January 2nd would be: Jan 2 Cash 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Common Stock 8,000,000 O Jan 2 Cash 1,000,000 Common Stock 1,000.000 Jan 2 Cash 8,000,000 Common Stock 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Jan 2 Cash 6,000,000 Common Stock 6,000,000

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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The journal entry to issue 1,000,000 shares of $6 par common stock for $6.00 per share on January 2nd would be: Jan 2 Cash 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Common Stock 8,000,000 O Jan 2 Cash 1,000,000 Common Stock 1,000.000 Jan 2 Cash 8,000,000 Common Stock 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Jan 2 Cash 6,000,000 Common Stock 6,000,000
Transcribed Image Text:The journal entry to issue 1,000,000 shares of $6 par common stock for $6.00 per share on January 2nd would be: Jan 2 Cash 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Common Stock 8,000,000 O Jan 2 Cash 1,000,000 Common Stock 1,000.000 Jan 2 Cash 8,000,000 Common Stock 6,000,000 Paid-In Capital in Excess of Par - C/S 2,000,000 Jan 2 Cash 6,000,000 Common Stock 6,000,000
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