FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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XYZ Company issues 5000 shares of stock for $30/share.
The stock has a par value of $5/share. The journal entry
to record this issuance would include:
O A credit to common stock of $5,000
O A credit to common stock of $125,000
O A credit to common stock of $25,000
O A credit to common stock of $150,000
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Transcribed Image Text:XYZ Company issues 5000 shares of stock for $30/share. The stock has a par value of $5/share. The journal entry to record this issuance would include: O A credit to common stock of $5,000 O A credit to common stock of $125,000 O A credit to common stock of $25,000 O A credit to common stock of $150,000
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