of $10 par value common stock. During its first When Wisconsin Corporation was f

Q: of $10 par value common stock. During its first When Wisconsin Corporation was f

1. d. credit to paid in capital in excess of par - common stock for $51,000 Journal entry to record above transaction would be 2. The market value of stock will fall to approximately b. $37.50 4 for 1 stock split, so market value = 150 / 4 = $37.50 3. Stock holder's equity $640,000 Accounting titles Debit Credit Cash 136000 Common stock 85000 paid in capital in excess of par - common stock 51000

ID: 2570033 • Letter: O

Question

of $10 par value common stock. During its first When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000 shares month of operation, the corporation issued 8,500 shares of stock at a price of $16 per share. The entry to record the above transaction would include a Oa. debit to Common Stock for $85,000 Ob. credit to Common Stock for $136,000 Oc. debit to Cash for $85,000 Od. credit to Paid-In Capital in Excess of Par-Common Stock for $51,000 De Pr Next 11/12/2017

Explanation / Answer

d. credit to paid in capital in excess of par - common stock for $51,000

Journal entry to record above transaction would be

The market value of stock will fall to approximately

b. $37.50

4 for 1 stock split, so market value = 150 / 4 = $37.50

Stock holder's equity

$640,000

Accounting titles Debit Credit Cash 136000 Common stock 85000 paid in capital in excess of par - common stock 51000

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of $1,000. Each pay 6 years. If the 6) Consider two bonds, A and B. Both bonds p

of $197000 of which $30,600 were indirect Minstrel incurred a factory payroll of

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of $10 par value common stock. During its first When Wisconsin Corporation was f

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