how-would-you-record-the-issuance-of-100000-shares-of-no-par-value-stock-at-10-p

Question

How would you record the issuance of 100,000 shares of no par value stock at $10 per share?

Accepted Answer

Debit Cash $$1,000,000; Credit Common Stock 1$$,000,000

Answer

Debit Cash $$1,000,000; Credit Common Stock 100$$,000; Credit Additional Paid-in Capital $900,000

Answer

Debit Cash $$100,000; Credit Common Stock 100$$,000

Answer

Debit Common Stock $$1,000,000; Credit Cash 1$$,000,000

How would you record the issuance of 100,000 shares of no par value stock at \$10 per share?