If stock has a par value of $1.00 and the company sells 100,000 shares at $2.00,...
If stock has a par value of $1.00 and the company sells 100,000 shares at $2.00, what would the journal transaction be? Hint: there will be three accounts used.
Homework Answers
| General Journal | Debit | Credit | ||||
| Cash | 200,000 | |||||
| Common stock | 100,000 | |||||
| paid in capital in excess of par | 100,000 | |||||
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If stock has a par value of $1.00 and the company sells 100,000
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