Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in exchange for $1,500 legal services to help set

In exchange for $1,500 legal services to help set up the new company, Hickory Grove...

80.2K

Verified Solution

Question

Accounting

In exchange for $1,500 legal services to help set up the new company, Hickory Grove Corporation issued 100 shares of $10 par value stock to its attorney. The entry to record the issuance of the stock would include a:

a. credit to Common Stock for $1,000.

b. debit to Common Stock for $1,000.

c. credit to Common stock for $1m500.

d. debit to paid in Capital in Excess of par Value for $500.

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

Subject is differential equations. Find the first four nonzero terms in a power series expansion about x=0...

Advance Math
Q

The test scores for the analytical writing section of a particular standardized test can be approximated...

Statistics
Q

Define personality. Describe the four basic theoretical perspectives in personality, including the psychoanalytic, humanistic, social cognitive, and...

Psychology
Q

in a survey of 2290 adults, 717 say they believe in UFO's construct a 99% confidence...

Basic Math
Q

In eukaryotic cells transcription occurs on the surface of the nuclear membrane on ribosomes on...

Biology
Q

6 71 A particle of mass 1 kg is placed at a distance of 4...

Physics
Q

4 Empirical Tegan and Sara are working at a ticket stand at a carnival Over...

Statistics
Q

Polynomial Addition Simplify each sum 1 3n 8n2n n A 5n4 8n C 7n 8n...

Algebra
Q

Bonus: (3 points each question, if you do all questions correctly we will get 10...

Accounting
Q

Novak Manufacturing Company is considering three new projects, each requiring an equipment investment of $25,400....

Accounting
Q

Flounder Corporation donates equipment and a truck to the community Home Assistance Centre. The equipment...

Accounting
Q

Question 14 (1 point) Wilson, who lives in Brampton, decides to retire...

Accounting