Hi! I just need help with the two journal entries that I got wrong. Why wouldn't common stock be 8million x $1 par to get 8 ? Explanations would be great. Thanks in advance!
Homework Answers
The option excersized is 75%
8million * 75%=6million shares will be issues at $1 per share
journal entry would be
| cash | 36 | |
| paid in capital | 6 | |
| common stock | 6 | |
| paid in capital-excess of par | 36 |
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