A company has the following journal entry recorded on June 15 of the current year: Debt: Cash76,000

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A company has the following journal entry recorded on June 15 of the current year:

Debt: Cash…………………76,000 $

Credit: Ordinary Stock…………………$15,200

Credit: Paid-in Capital………………………..$60,800

The stock was sold at $20 per share. What is the value of the stock and how many shares have been sold?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jul 14, 2023 03:47 AM

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A company has the following journal entry recorded on June 15 of the current year: Debt: Cash76,000

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Value of the Stock The value of the stock is calculated as follows Value of the s... View the full answer

Income Tax Fundamentals 2013

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