A company issues 15000 shares of its 22 par common stock for

A company issues 15,000 shares of its $22 par common stock for $32 per share. The amount to be debited to Cash is O A. $810,000. O B. $330,000 O c. $150,000. O D. $480,000. dia Re c St un Click to select your answer 5/15/18 test. Then, go to the Study Plan for your customized learning path.

Solution

Answer:D.$480000

Cash a/c                       Dr, 480000

       To Common Stock                         330000

       To Paid in Capital in excess of par   150000