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Home Q & A Board Other Fields Homework Help Business Accounting
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upton upton
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6 years ago
The entry to record selling 100 shares of no-par common stock with a stated value of $30 for $40 would be to:
A) debit Cash for $4,000; credit Common Stock for $1,000; credit Paid-In Capital in Excess of Par Value-Common for $3,000.
B) debit Cash for $4,000; credit Common Stock for $3,000; credit Paid-In Capital in Excess of Stated Value-Common for $1,000.
C) debit Cash for $4,000; credit Common Stock for $4,000.
D) debit Common Stock for $4,000; credit Cash for $4,000.
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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