Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. /connect.html help a company issued 60 shares of $

/connect.html Help A company issued 60 shares of $100 par value common stock for $7000...

90.2K

Verified Solution

Question

Accounting

image
/connect.html Help A company issued 60 shares of $100 par value common stock for $7000 cash. The journal entry to record the issuance is: Debit Cash $7.000, cred t Paid-in Capital in Excess of Per Value. Common Stock $6.000. credit Common Stock $1,000 Debit Investment in Common Stock $7,000 credit Cash $7.000 Debit Cosh $7.000 credit Common Stock $7.000

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

Find the interest earned when $22825 is invested at 6% compounded continuously for 5 years....

Calculus
Q

According to an​ airline, flights on a certain route are on time 80​% of the time....

Statistics
Q

A solution was prepared by dissolving 0.1937 g of HgO (table) in 20 mL of water...

Chemistry
Q

What are three FEDERAL documents in which tax-exempt organizations are REQUIRED to disclose to the public? List...

Accounting
Q

The process by which the major land masses have shifted their positions changed shapes and...

Biology
Q

13 A gas mixture consists of 2 moles of oxygen and 13 4 moles of...

Physics
Q

8214 O 8142 Question 4 0 5 points Listen Use Newton s method to det...

Calculus
Q

for the 2022 year, the following data were taken from the accounting records: $ sales...

Accounting
Q

35. An aging of a company's accounts...

Accounting
Q

During the current year, Carl Equipment Stores had net sal es of $600 million, a...

Accounting
Q

1,What are the main differences between equity and liabilities? 2,Are there any restrictions on distributing...

Accounting
Q

28 The unit selling price for the company's product is a. $15.75 b....

Accounting