A journal entry for the sale of $10 par common stock for $18 per share would include

a. a credit to Cash

b. a debit to common stock

c. a credit to Paid in Capital in Excess of Par-Common Stock

d. a debit to Paid in Capital n Excess of Par-Common Stock

Question

Mathematics

Niko Kirby

21 July, 14:06

A journal entry for the sale of $10 par common stock for $18 per share would include

a. a credit to Cash

b. a debit to common stock

c. a credit to Paid in Capital in Excess of Par-Common Stock

d. a debit to Paid in Capital n Excess of Par-Common Stock

+5

Answers (1)

Know the Answer?

Theodore Galloway · Answer 1

Credit to paid in capital in excess of par-common stock. the word stock in the question instantly removes a and b there is no debit so c or d but i would go with c. just cause d is missing an i in one of its 'in'

A journal entry for the sale of $10 par common stock for $18 per share would includea. a credit to Cashb. a debit to common stockc. a credit to Paid in Capital in Excess of Par-Common Stockd. a debit to Paid in Capital n Excess of Par-Common Stock

A journal entry for the sale of $10 par common stock for $18 per share would include

a. a credit to Cash

b. a debit to common stock

c. a credit to Paid in Capital in Excess of Par-Common Stock

d. a debit to Paid in Capital n Excess of Par-Common Stock