We appreciate your visit to On January 2 2014 the Hoover Corporation issued 43 000 shares of 10 stated value common stock for 29 50 per share Which of the. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Answer:
The Paid-in Capital in Excess of Stated Value account will increase by $838,500
Explanation:
The journal entry to record the issuance of common stock is shown below:
Cash A/c Dr $1,268,500 (43,000 shares × $29.50)
To Common Stock $430,000 (43,000 shares × $10)
To Additional Paid-in Capital in excess of par - Common Stock $838,500
(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)
While issuing the stock, we debited the cash account and credited the common stock and additional paid-in capital account
Thanks for taking the time to read On January 2 2014 the Hoover Corporation issued 43 000 shares of 10 stated value common stock for 29 50 per share Which of the. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
