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13 May, 16:43

caesar cruise lines, inc. issues 6,000 shares of common stock with a $2 par value. the issue price of the stock is $21 per share, and th ecompany paid an undwriter $500 in stock issue costs. what is the journal entry required to record the issuance of the shares

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  1. 13 May, 16:47
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    Journal Entry

    Explanation:

    The Journal Entry is shown below:-

    Cash Dr, $125,500

    (6,000 * $21 - $500)

    To common stock 6,000

    To Additional paid in capital $119,500

    in excess of par-common

    (Being the issuance of the shares is recorded)
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