Bonita Corp. issues 1500 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to O Common Stock $15000 and Paid-in Capital in Excess of Stated Value $9000. O Common Stock $15000 and Paid-in Capital in Excess of Par $9000. O Common Stock $15000 and Retained Earnings $9000. O Common Stock $24000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bonita Corp. issues 1500 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are
made to
O Common Stock $15000 and Paid-in Capital in Excess of Stated Value $9000.
O Common Stock $15000 and Paid-in Capital in Excess of Par $9000.
O Common Stock $15000 and Retained Earnings $9000.
O Common Stock $24000.
Transcribed Image Text:Bonita Corp. issues 1500 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to O Common Stock $15000 and Paid-in Capital in Excess of Stated Value $9000. O Common Stock $15000 and Paid-in Capital in Excess of Par $9000. O Common Stock $15000 and Retained Earnings $9000. O Common Stock $24000.
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