Business, 17.06.2020 19:57 hernandezbrandon059
When Bunyan Corporation was formed on January 1, the corporate charter provided for 103,800 shares of $7 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 7,670 shares of stock at a price of $23 per share. Which of the following would be included when recording the transaction?
a. Debit to Common Stock for $97,200
b. Credit to Paid in Capital in Excess of Par for $98,400
c. Credit to Common Stock for $157,440
d. Debit to Cash for $59,040
Answers: 2
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When Bunyan Corporation was formed on January 1, the corporate charter provided for 103,800 shares o...
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