If a corporation issued 25,000 shares of $1.00 par common stock for $2.85 per share. The appropriate journal entry for the IPO is:
a) Date Account
1-Jan Cash $25,000
Common Stock $25,000
b) Date Account
1-Jan Cash $71,250
Common Stock $71,250
c) Date Account
1-Jan Cash $25,000
Additional Paid in Capital $46,250
Common Stock $71,250
d) Date Account
1-Jan Cash $71,250
Additional Paid in Capital $46,250
Common Stock $25,000
Answers: 3
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If a corporation issued 25,000 shares of $1.00 par common stock for $2.85 per share. The appropriate...
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