Ask Question
10 June, 18:25

East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a

+3
Answers (1)
  1. 10 June, 18:43
    0
    Dr Cr

    Cash (15,000 * $15) $225,000

    Common Stock $120,000

    (15000 shares * Stated value $8)

    Paid-In Capital in Excess of Stated $105,000

    Value - Common

    ($225,000 - $120,000)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers