A company receives a subscription for 4,000 shares of $1 par value common stock at $10 per share. The journal entry for this transaction would include a debit to
a. Common Stock Subscriptions Receivable, $40,000.
b. Common Stock Subscribed, $40,000.
c. Common Stock, $40,000.
d. Premium on Common Stock, $40,000.
a
You might also like to view...
Which conflict management strategy is defined as an attempt to suppress a conflict and pretend it does not exist?
A. acclimation B. collaboration C. competition D. avoidance
The direct write-off method
a. must be used for income tax reporting in the United States. b. is the method preferred by U.S. GAAP for financial reporting. c. prevents management of earnings by the firm. d. does not misstate the amount of accounts receivable on the balance sheet. e. none of the above.
The operating budgets of a company include:
A) the cash budget B) the capital expenditures budget C) the financing budget D) the production budget
Explain Porter's generic strategies for financially based objectives?
What will be an ideal response?