Homework Answers
ANSWER
| Journal Entries | |||
| Event | Particulars | Debit | Credit |
| a | Cash Dr | $432,000.00 | |
| To Common stock | $432,000.00 | ||
| (To record issue of common stock) | |||
| b | Cash Dr | $504,000.00 | |
| To Common stock | $432,000.00 | ||
| To Paid in capital in excess of par - common stock | $72,000.00 | ||
| (To record issue of common stock) | |||
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