Homework Answers
| Accounts titles and explanation | Debit | Credit |
| Cash ($14 * 6,000) | $84,000 | |
| ... Common stock ($5 * 6,000) | $30,000 | |
| ... Paid-in Capital in Excess of par | $54,000 | |
| (To record the issuance of common stock) |
Credit of common stock of $30,000, is the correct answer.
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Multiple choice question
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Multiple choice question
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