Pina Colada Corp. issued 11000 shares of stock at a stated value of $10/share. The total issue of stock sold for $15/share. The journal entry to record this transaction would include a A)credit to Common Stock for $165000. B)credit to Paid-in Capital in Excess of Par Value for $55000. C)debit to Cash for $110000. D)credit to Common Stock for $110000.
Pina Colada Corp. issued 11000 shares of stock at a stated value of $10/share. The total issue of stock sold for $15/share. The journal entry to record this transaction would include a
A)credit to Common Stock for $165000.
B)credit to Paid-in Capital in Excess of Par Value for $55000.
C)debit to Cash for $110000.
D)credit to Common Stock for $110000.
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The post Pina Colada Corp. issued 11000 shares of stock at a stated value of $10/share. The total issue of stock sold for $15/share. The journal entry to record this transaction would include a A)credit to Common Stock for $165000. B)credit to Paid-in Capital in Excess of Par Value for $55000. C)debit to Cash for $110000. D)credit to Common Stock for $110000. appeared first on Superb Professors.