contestada

Penne Pharmaceuticals sold 2 million shares of its $5 par common stock to provide funds for research and development. If the issue price is $16 per share, what is the journal entry to record the sale of the shares

Respuesta :

ayokenny2001

Answer:

Please see the journal entry below.

Explanation:

Cash account Dr

(2m shares × $16 per share) $32,000,000

Common stock account Cr

(2m shares × $5 per common stock) $10,000,000

APIC - Common stock account Cr

[($16 - $5) × 2m shares]

$22,000,000

Otras preguntas