On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of $50 par preferred stock were issued at $111. What is the amount of the debit to Cash on May 1 and May 7? Oa. May 1: $200,000; May 7: $305,000 Ob. May 1: $555,000 May 7: $305,000 Oc., May 1: $300,000; May 7: $555,000 Od. May 1: $100,000; May 7: $250,000
On May 1, 10,000 shares of $10 par common stock were issued at $30, and on May 7, 5,000 shares of $50 par preferred stock were issued at $111. What is the amount of the debit to Cash on May 1 and May 7? Oa. May 1: $200,000; May 7: $305,000 Ob. May 1: $555,000 May 7: $305,000 Oc., May 1: $300,000; May 7: $555,000 Od. May 1: $100,000; May 7: $250,000
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...
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