A corporation sold 14000 shares of its 10 par value common, Ask an Expert

Accounting

A corporation sold 14,000 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction would include:

A debit to Contributed Capital in Excess of Par Value, Common Stock for $42,000

A debit to Cash for $140,000

A credit to Common Stock for $182,000

A credit to Common Stock for $140,000

A credit to Contributed Capital in Excess of Par Value, Common Stock for $182,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M979371

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