Suppose Value Home and Garden Imports issued 400,000 shares of $0.10 par common stock at $4 per
Question:
Suppose Value Home and Garden Imports issued 400,000 shares of $0.10 par common
stock at $4 per share. Which journal entry correctly records the issuance of this stock?
Transcribed Image Text:
Date a. Common Stock-$0.10 Par Value Accounts and Explanation C. Cash b. Common Stock-$0.10 Par Value Cash d. Cash Cash Paid-In Capital in Excess of Par-Common Common Stock-$0.10 Par Value Paid-In Capital in Excess of Par-Common Common Stock-$0.10 Par Value Debit 1,600,000 1,600,000 1,600,000 1,600,000 Credit 40,000 1,560,000 1,600,000 40,000 1,560,000 1,600,000
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Related Book For
Horngrens Financial And Managerial Accounting The Managerial Chapters
ISBN: 9781292412337
7th Global Edition
Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura
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