Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc sells 400 shares of its $23 par common stock f

ABC sells 400 shares of its $23 par common stock for $27. The entry would...

50.1K

Verified Solution

Question

Accounting

ABC sells 400 shares of its $23 par common stock for $27. The entry would be entail credits to: a. Cash for $9,200.

b. paid in cash excess of Par-Common for $800; common stock for $10,800.

c. Paid -in capital in Excess of Par-Common for $1,600; common stock for $9,200.

d. Common Stock for $10,800.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Use the Laws of Logarithms to expand the expression 3x9 log3 y

Calculus
Q

To estimate the company's WACC, Marshall Inc. recently hired you as a consultant. You have obtained...

Finance
Q

maximum et rays are 26 The average energy density of electromagnetic wav given by E...

Physics
Q

the correct statement 0 1 Point A capacitor can conduct a dc circuit but not...

Physics
Q

A paricle of mass 2kg is free to move al ong x axis under the...

Physics
Q

28 What are the values of x and y in parallelogram ABCD O A B...

Geometry
Q

WA early label asymptotes and graph two full periods f x tan x 7 THE

Geometry
Q

The following aging information pertains to Jacobsen Co,'s accounts receivable at December 31,2021 ...

Accounting
Q

On April 1, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions...

Accounting
Q

u tipo de decisiones especiales a corto plazo no es probable que tenga que tomar...

Accounting
Q

In budgetary accounting if we consider, that budgetary accounts are used to record the budgetary...

Accounting
Q

A trader enters a long position on 3 units of Brent Crude Oil futures contracts...

Finance