Solved: South beach apparel issued 14000 shares of 3 par value for, Accounting Basics

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South beach apparel issued 14000 shares of 3 par value for

South Beach Apparel issued 14,000 shares of $3 par value for $15 per share. What is true about the journal entry to record the issuance?

Credit Common Stock $210,000
Credit Cash $210,000
Debit Common Stock $42,000
Credit Additional Paid-In Capital $168,000

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Accounting Basics: South beach apparel issued 14000 shares of 3 par value for

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Accounting Basics: South beach apparel issued 14000 shares of 3 par value for

Reference No:- TGS02577782

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