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upton upton
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6 years ago
The Bean Counter Corporation received subscriptions for 100 shares of its $12 par value common stock at $15 per share. The entry to record receipt of the subscriptions would include a:
A) debit to Subscriptions ReceivableCommon Stock $1,500; a credit to Common Stock Subscribed $1,200; and a credit to Paid-in Capital in Excess of Par ValueCommon for $300.
B) debit to Common Stock Subscribed $1,500 and a credit to Subscriptions Receivable-Common Stock $1,500.
C) debit to Cash $1,500; a credit to Common Stock $1,200; and a credit to Paid-in Capital in Excess of Par ValueCommon $300.
D) debit to Cash $1,500 and a credit to Common Stock $1,500.
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College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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AugustisAugustis
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Brilliant ツ
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