On January 2, 2019, AC Inc. issued 50,000 shares of its no-par-value common stock ($50 stated...
On January 2, 2019, AC Inc. issued 50,000 shares of its
no-par-value common stock ($50 stated value) for cash at $51 a
share.
Prepare a journal entry to record the issuance of the stock.
Journal entry worksheet
- Record the issuance of 50,000 shares of no-par common stock at $51 per share (stated value, $50/share).
Note: Enter debits before credits.
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