Spirit World, Inc., issued 250,000 shares of no-par common stock for $5 per share. The journal entry

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Spirit World, Inc., issued 250,000 shares of no-par common stock for $5 per share. The journal entry to record the issuance would be:

A1 A. Cash Common Stock Gain on the Sale of Stock 1,250,000 a. 250,000 1,000,000 2 3 b. Cash 250,000 Common Stock 250,00

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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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Question Posted: Jun 18, 2019 11:19 AM

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Spirit World, Inc., issued 250,000 shares of no-par common stock for $5 per share. The journal entry

Question:

A1 A. Cash Common Stock Gain on the Sale of Stock 1,250,000 a. 250,000 1,000,000 2 3 b. Cash 250,000 Common Stock 250,000 Cash Common Stock 1,250,000 C. 1,250,000 9. 10 d. Cash 1,250,000 11 Common Stock Paid-in Capital in Excess of Par 500,000 750,000 12 13 14

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Financial Accounting

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