Question: Please answer the following question and show your work. Thank you very much for your help. No Game Corp. issues 50 shares of common stock

Please answer the following question and show your work. Thank you very much for your help.

Please answer the following question and show
No Game Corp. issues 50 shares of common stock with a $1 par value. The issue price of the stock is $20 per share. The company paid $100 in issuance costs directly from the proceeds of the share sale. What is the journal entry required to record the issuance of the shares? (Select all that apply.) Cr. Common Stock At Par -- $100 Cr. Additional Paid-In Capital -- $850 Cr. Additional Paid-In Capital -- $950 00 0 0 0 0 0 Dr. Issuance costs -- $100 Dr. Cash -- $900 Dr. Cash -- $1000 Cr. Common Stock At Par -- $50

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!