A company issued 20,000 shares of its $1 par value ordinary stock for cash. The price is $10 per share. The entry to record this transaction would be:
A: Debit Cash $200,000; credit Ordinary Stock $20,000; credit Share Premium, Ordinary Stock $180,000.
B: Debit Cash for $200,000; credit Ordinary Stock $200,000
C: Debit Ordinary Stock $20,000; debit Share Premium, Ordinary Stock $180,000; credit Cash $200,000.
D: Debit Ordinary Stock $20,000; credit Cash $20,000.
A: Debit Cash $200,000; credit Ordinary Stock $20,000; credit Share Premium, Ordinary Stock $180,000.
B: Debit Cash for $200,000; credit Ordinary Stock $200,000
C: Debit Ordinary Stock $20,000; debit Share Premium, Ordinary Stock $180,000; credit Cash $200,000.
D: Debit Ordinary Stock $20,000; credit Cash $20,000.
举一反三
- Company A issued 2,500 shares of its no par ordinary stock for cash. The price is $10 per share. The entry to record this transaction would be: A: Debit Cash $25,000; credit Share Premium in Excess of Par Value $25,000. B: Debit Cash $25,000; credit Ordinary Stock $25,000. C: Debit Ordinary Stock $25,000; credit Cash $25,000. D: Debit Treasury Stock $25,000; credit Cash $25,000.
- A corporation issued 6,000 shares of its $1 par value ordinary stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include: A: A debit to Ordinary Stock for $6,000. B: A debit to Land for $6,000. C: A credit to Land for $84,000. D: A credit to Share Premium, Ordinary Stock for $78,000.
- Company receive the money of the loan, $200 000, and deposit it in its bank account, which side should we record the account Cash in bank? A: debit B: credit
- The entry to sell 100 shares of $12 par common stock at $17 per share would include a: （ ） A: $1,200 debit to Cash. B: $500 debit to Additional Paid-in Capital. C: $1,200 credit to Common Stock. D: $1,700 credit to Common Stock.
- An attorney performs services of $1,100 for a client and receives $400 cash, with the remainder on account. The journal entry for this transaction would A: debit Cash, debit Service Revenue, credit Accounts Receivable. B: debit Cash, debit Accounts Receivable, credit Service Revenue. C: debit Cash, credit Service Revenue. D: debit Cash, credit Accounts Receivable, credit Service Revenue.