A corporation issues 6,000 shares of $5 par value commonstock for $8 cash per share. The entry to record this transactionincludesa. A debit to Paid-In Capital in Excess of Par Value for$18,000.b. A credit to Common Stock for $48,000.c. A credit to Paid-In Capital in Excess of Par Value for$30,000.d. A credit to Cash for $48,000.e. A credit to Common Stock for $30,000.
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A corporation issues 6,000 shares of $5 par value common
stock for $8 cash per share. The entry to record this transaction
includes
a. A debit to Paid-In Capital in Excess of Par Value for
$18,000.
b. A credit to Common Stock for $48,000.
c. A credit to Paid-In Capital in Excess of Par Value for
$30,000.
d. A credit to Cash for $48,000.
e. A credit to Common Stock for $30,000.
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- A corporation issued 100 shares of $100 par value preferred stock for $150 per share. The resulting journal entry would include which of the following? A. a credit to common stock B. a credit to cash C. a debit to paid-in capital in excess of preferred stock D. a debit to cashIf a corporation issues 1,000 shares of $1 par value common stock for $12,000, the journalentry would include a credit toa. Common Stock for $1,000.b. Retained Earnings for $1,000.c. Common Stock for $12,000.d. Paid-in Capital in Excess of Par—Common for $12,000.A corporation purchases 1,000 shares of its own common stock for $4,000 on February 13. On April 13, half of the treasury stock was sold for $3,000. On April 26, the other half of the treasury stock was sold for $1,800. The entry to record the April 26 sale would include a a.credit to Cash for $1,800. b.debit to Paid-In Capital from Sale of Treasury Stock for $200. c.debit to Treasury Stock for $2,000. d.credit to Paid-In Capital from Sale of Treasury Stock for $1,200.
- A corporation sold 9,500 shares of its $10 par value common stock at a cash price of $11 per share. The entry to record this transaction would include: Multiple Choice A credit to Common Stock for $95,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $104,500. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $199,500. A credit to Common Stock for $104,500. A debit to Cash for $95,000. OIf Dakota Company issues 1,100 shares of $6 par common stock for $24,200, a.Cash will be debited for $6,600. b.Common Stock will be credited for $24,200. c.Paid-In Capital in Excess of Par will be credited for $17,600. d.Paid-In Capital in Excess of Par will be credited for $6,600.A corporation sold 9,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction. would include: Multiple Choice A debit to Cash for $90,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $117,000. A credit to Common Stock for $117,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $207,000. A credit to Common Stock for $90,000.
- A corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capitam Excess of Par Value, Common Stock for $324,000. A credit to Common Stock for $189,000. A debit to Cash for $135,00.2a. A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: A debit to Cash for $110,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $154,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $264,000. A credit to Common Stock for $110,000. A credit to Common Stock for $154,000. 2b. A company issued 150 shares of $100 par value common stock for $17,800 cash. The total amount of paid-in capital in excess of par is: $100. $1,500. $2,800. $15,000. $17,800.The charter of a corporation provides for the issuance of 94,546 shares of common stock. Assume that 41,432 shares were originally issued and 3,112 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared? Oa. $3,112 Ob. $41,432 Oc. $76,640 Od. $94,546
- If a corporation issues 6,000 shares of $5 par value common stock for $89,000, the journal entry would include a credit to: OA. Common Stock for $59,000. O B. Common Stock for $89,000. C. Paid-in Capital in Excess of Par-Common for $89,000. D. Paid-in Capital in Excess of Par-Common for $59,000. O O OThe charter of a corporation provides for the issuance of 93,872 shares of common stock. Assume that 44,236 shares were originally issued and 3,223 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2-per-share dividend is declared? Oa. $3,223 Ob. $93,872 Oc. $44,236 Od. $82,026A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include: Multiple Choice A debit to Common Stock for $12,000. A debit to Land for $12,000. A credit to Land for $12,000. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $72,000. A credit to Common Stock for $84,000.