Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash...
Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be:
Debit Common Stock $26,000; credit Cash $26,000.
Debit Common Stock $26,000; debit Paid-in Capital in Excess of Par Value, Common Stock $286,000; credit Cash $312,000.
Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000.
Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value, Common Stock $286,000.
Debit Cash for $312,000; credit Common Stock $312,000.
Homework Answers
| Cash (26,000*12) | 312,000 | |
| Common stock (26,000*1) | 26,000 | |
| Paid in capital in excess of par, common stock | 286,000 |
Debit cash 312,000; credit common stock 26,000;credit paid in capital in excess of par value common stock 286,000
Option D is the answer
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Comfort Mattresses, Inc. sold 26,000
shares of its $1 par value common stock at a cash...
Show all work please. True/False 7 points each. Circle the correct answer. Corporations avoid many of...
Show all work please.
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Exercise 15-05 Waterway Inc. issues 500 shares of $10 par value common stock and 100 shares...
Exercise 15-05
Waterway Inc. issues 500 shares of $10 par value common stock
and 100 shares of $100 par value preferred stock for a lump sum of
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(a)
Prepare the journal entry for the issuance when the market
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(b)
Prepare the journal entry for the issuance when only the market
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Exercise 15-05 Ayayai Inc. issues 500 shares of $10 par value common stock and 100 shares...
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Show all work please.
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Exercise 15-05
Waterway Inc. issues 500 shares of $10 par value common stock
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(a)
Prepare the journal entry for the issuance when the market
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(b)
Prepare the journal entry for the issuance when only the market
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