Allridge Corporation received cash from issuing 38,000 shares of common stock at $4 per share on January 1, 2018. The stock has a par value of $1 per share. Which is the correct journal entry to record this transaction? O A. Common Stock - $1 Par Value Paid-in Capital in Excess of Par - Common Cash OB. Cash Common Stock $1 Par Value Paid-in Capital in Excess of Par - Common OC. Cash Common Stock $1 Par Value Paid-in Capital in Excess of Par CHL OD. Common Stock - $1 Par Value Common Paid-in Capital in Excess of Par - Common Cash A 38,000 114,000 152,000 152,000 114,000 38,000 152,000 38,000 114,000 114,000 38,000 152,000
Allridge Corporation received cash from issuing 38,000 shares of common stock at $4 per share on January 1, 2018. The stock has a par value of $1 per share. Which is the correct journal entry to record this transaction? O A. Common Stock - $1 Par Value Paid-in Capital in Excess of Par - Common Cash OB. Cash Common Stock $1 Par Value Paid-in Capital in Excess of Par - Common OC. Cash Common Stock $1 Par Value Paid-in Capital in Excess of Par CHL OD. Common Stock - $1 Par Value Common Paid-in Capital in Excess of Par - Common Cash A 38,000 114,000 152,000 152,000 114,000 38,000 152,000 38,000 114,000 114,000 38,000 152,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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