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A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include:___________
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26 votes
26 votes
A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include:___________

User Andrei F
by
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1 Answer

15 votes
15 votes

Answer:

A credit to Common Stock for $110,000. A further explanation is provided below.

Step-by-step explanation:

Given:

Corporation sold,

= 11,000

Common stock per value,

= $10

Cash price,

= $14 per share

The entry record would include,

=
Sold \ corporation* Common \ stock

=
11000* 10

=
110,000 ($)

User Ciyo
by
2.8k points
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