on january 1, 2020, nero company was authorized to issue 10,000 shares of P2 par...
70.2K
Verified Solution
Link Copied!
Question
Accounting
on january 1, 2020, nero company was authorized to issue 10,000 shares of P2 par ordinary shares. given this infromation, if the company issued 3,000 shares of ordinary shares for 7 per share on january 10, 2020, the entryto record the issuance of the shares would include a :
a. credit to paid in capital in excess of par, ordinary shares of 6000
b. debit to cash of 6000
c. credit to ordinary shares of 6000
d. debit to cash of 15000
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!
