Crane, Inc. issued 10900 shares of stock at a stated value of $7/share. The total...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Crane, Inc. issued 10900 shares of stock at a stated value of $7/share. The total issue of stock sold for $14 per share. The journal entry to record this transaction would include a credit to Common Stock for $76300 debit to Cash for $76300 credit to Common Stock for $152600 credit to Paid-in Capital in Excess of Par for $152600. Save for Later Attempts:0 of 1 used Submit
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!
