If Dakota Company issues 1,000 shares of $7 par common stock for $18,000, a.Paid-In Capital in...
If Dakota Company issues 1,000 shares of $7 par common stock for $18,000, a.Paid-In Capital in Excess of Par will be credited for $11,000. b.Paid-In Capital in Excess of Par will be credited for $7,000. c.Common Stock will be credited for $18,000. d.Cash will be debited for $7,000.
Homework Answers
Journal:
Cash a/c....Dr$18000
To common stock $7000(1000 shares@$7 par)
To Paid-In Capital in Excess of Par $11000
Hence the correct option is:
a.Paid-In Capital in Excess of Par will be credited for $11,000.
Add Answer to:
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