Ask Question
31 July, 21:07

caesar cruise lines, inc. issues 6,000 shares of common stock with a $2 par value. the issue price of the stock is $21 per share, and th ecompany paid an undwriter $500 in stock issue costs. what is the journal entry required to record the issuance of the shares

+3
Answers (1)
  1. 31 July, 23:30
    0
    Journal Entry

    Explanation:

    The Journal Entry is shown below:-

    Cash Dr, $125,500

    (6,000 * $21 - $500)

    To common stock 6,000

    To Additional paid in capital $119,500

    in excess of par-common

    (Being the issuance of the shares is recorded)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “caesar cruise lines, inc. issues 6,000 shares of common stock with a $2 par value. the issue price of the stock is $21 per share, and th ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers