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When a company issues 39,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include a: Multiple Choice Debit to Additional Paid-in Capital for $195,000 Credit to Common Stock for $1,950,000. Debit to Cash for $195,000. Credit to Additional Paid-in Capital for $1,755,000.

When a company issues 39,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include a: Multiple Choice Debit to Additional Paid-in Capital for $195,000 Credit to Common Stock for $1,950,000. Debit to Cash for $195,000. Credit to Additional Paid-in Capital for $1,755,000.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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When a company issues 39,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include a: Multiple Choice Debit to Additional Paid-in Capital for $195,000 Credit to Common Stock for $1,950,000. Debit to Cash for $195,000. Credit to Additional Paid-in Capital for $1,755,000,
Transcribed Image Text:When a company issues 39,000 shares of $5 par value common stock for $50 per share, the journal entry for this issuance would include a: Multiple Choice Debit to Additional Paid-in Capital for $195,000 Credit to Common Stock for $1,950,000. Debit to Cash for $195,000. Credit to Additional Paid-in Capital for $1,755,000,
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