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majestico majestico
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6 years ago
In exchange for $1,500 legal services to help set up the new company, Hickory Grove Corporation issued 100 shares of $10 par value stock to its attorney. The entry to record the issuance of the stock would include a:
A) credit to Common Stock for $1,000.
B) debit to Common Stock for $1,000.
C) credit to Paid-in Capital in Excess of Par Value-Common for $500.
D) Both A and C
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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6 years ago
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majestico Author
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#2
6 years ago
Thanks for attempting to answer. You were correct in your response!
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