Moonwalker Corporation issued 2,000 shares of common stock of $10 par value for $60,000. Moonwalker also incurred
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Moonwalker Corporation issued 2,000 shares of common stock of $10 par value for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing shares. If you record the transaction with a journal entry that debits cash for $58,500 ($60,000 - 1,500).
Required
What would be the PIC adjustment above par - CS?
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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