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daffy duct, inc. issued 10,000 shares of no-par value common stock at $10 per share. miss hap, the bookkeeper, recorded the transaction with a $100,000 debit to cash and $100,000 credit to common stock.
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daffy duct, inc. issued 10,000 shares of no-par value common stock at $10 per share. miss hap, the bookkeeper, recorded the transaction with a $100,000 debit to cash and $100,000 credit to common stock. which of the following is true? multiple choice question. total liabilities will be understated.

User Adrien Arcuri
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Answer: the entry is correct

User Swaroop Maddu
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