Question: The entry to record the issuance of common stock at a price above par includes a debit to a). Organizational Expenses b). Common Stock c).

The entry to record the issuance of common stock at a price above par includes a debit to

a). Organizational Expenses

b). Common Stock

c). Cash

d). Paid-In Capital in Excess of Par—Common Stock

Step by Step Solution

★★★★★

3.40 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Correct option is c Because as we know that the entry to reco... View full answer

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 General Management Questions!

Q:

How does the entry to record the issuance of a bond at a premium differ from a bond issued at a discount?

Q:

In journalizing and posting the entry to record the purchase of supplies for cash, the accounts payable account was credited in error. What is the preferred procedure to correct this error?

Q:

John saved $4000 and he invested part of it in his saving account that paid 4% per year and the rest of his saving in stocks that paid 8% per year. The total interest after 1 year became $400 with...

Q:

Patel Company reported the following items in its statement of cash flows presented using the indirect method. a. Sold equipment for cash b. Issuance of common stock c. Cash paid for interest d....

Q:

Cash flow items must be categorized into one of four categories. Identify each item as operating (O), investing (I), financing (F), or non-cash (N). If reported on the statement of cash flows, decide...

Q:

The comparative balance sheets for Hinckley Corporation show the following information. December 31 2014 2013 Money $39,490 $14,430 accounts receivable 18,440 11,870 Inventory 17,810 9,630...

Q:

Baucom Manufacturing Corporation was started with the issuance of common stock for $50,000. It purchased $7,000 of raw materials and worked on three job orders during 2012 for which data follow....

Q:

Common and preferred stock-issuances and dividends. Permabilt Corp. was incorporated on January 1, 2013, and issued the following stock for cash: 4,000,000 shares of no-par common stock were...

Q:

Moreno Manufacturing Corporation was started with the issuance of common stock for $30,000. It purchased $7,000 of raw materials and worked on three job orders during 2015 for which data follow....

Q:

Koch Construction Company began operations on January 1, 2015, when it acquired $15,000 cash from the issuance of common stock. During the year, Koch purchased $3,000 of direct raw materials and used...

Q:

Table 4.7.1 Inventory Investment $20 Net Exports -$100 Small Business Capital Household Consumption $65 Consumption $800 Government Non-Profit Capital Capital Spending $30 Spending $12 Government...

Q:

1.How do I identify my target market? 2.What are the key factors for a successful business plan? 3.How can I improve my companys cash flow? 4.What are the most effective ways to market a small...

Q:

1.What is the Renaissance, and why is it significant in art history? 2.How does Romanticism differ from Neoclassicism in art? 3.What is the significance of the Mona Lisa in art history? 4.How did the...

Q:

Question 1: What is cultural relativism, and how does it influence the study of cultures?

Q:

How does the concept of hegemony relate to culture?

Q:

a 3 phase induction motor is wound for poles and is supplied from 3 phase 50 Hz system .calculate 1. the synchronous speed,2.speed of the motor when slip is .04 and 3.the rotor frequency when the...

Q:

Linnea is thinking of buying two companies, mysteriously called Gothenburg and Stock- holm in Scandinavia. The information was gathered by industrial spies but is not com- plete. Additionally, Linnea...

Q:

Assessing simultaneous changes in CVP relationships Braun Corporation sells hammocks; variable costs are $75 each, and the hammocks are sold for $125 each. Braun incurs $240,000 of fixed operating...

Q:

Devona Enterprises began fiscal 2010 on January 1 with 1 million shares of common stock authorized and 300,000 shares issued and outstanding. The par value of the common stock is $ 0.50 per share and...

Q:

The Melano Corporation was authorized to issue 1,000,000 shares of $ 1 par common stock and 100,000 shares of $ 100 par, 10 percent cumulative preferred stock. To date, Melano has issued 300,000...

Q:

Fleak Corporation borrows money by issuing a three- year periodic and lump- sum payment note payable with a face value of $ 300,000 and a face rate of 7 percent that is paid annually. The market rate...

Q:

3. Uncertainty Avoidance. The degree to which groups will encourage members to feel threatened by unknown or ambiguous situations and develop beliefs, institutions, or rituals to avoid them.

Q:

2. Societal Cynicism. This dimension represents an apprehension or pessimism of the world. Caring about societal affairs only brings trouble upon oneself and kind-hearted people usually suffer losses...

Q:

1. List and describe the various subjective elements of culture.