On May 10, Riverbed Corp issues 2,300 shares of $5 par value common stock for cash...

Question

Question

On May 10, Riverbed Corp issues 2,300 shares of $5 par value common stock for cash at $12 per share. Journalize the issuance

Answer 1

Answer #1

Answer- Journal entry for the issuance of the stock -

Date	Accounts Titles & Explanation	Debit	Credit
		$	$
May-10	Cash (2300 shares*$12 per share)	27600
	Common stock (2300 shares*$5 per share)		11500
	Paid-in-capital in Excess of Stated Value		16100

	(Being entry recorded for issuance of common stock)

Answer 2

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