A corporation sold 11000 shares of its 10 par value common, Ask an Expert

Accounting

A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $12 per share. The entry to record this transaction would include:

A credit to Contributed Capital in Excess of Par Value, Common Stock, for $132,000.

A debit to Contributed Capital in Excess of Par Value, Common Stock, for $11,000.

A credit to Common Stock for $132,000.

A credit to Common Stock for $110,000.

A debit to Cash for $110,000.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91962968

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