Moodle SUC You are logged in Back to course Introduction to Accounting (1) Quiz navid O 3 hoty od Marted out of 1

Accounting Nov 05, 2020

Moodle SUC You are logged in Back to course Introduction to Accounting (1) Quiz navid O 3 hoty od Marted out of 1.50 Assume AZD Co. issued 5,000 shares of its OR 4 par value common stock for OR 7 per share the journal entry to recognized this transaction would be 10 Finish atom Time left 0:2 Select one: a Dr. Cash 35,000 Cr. Common Stock 20,000 Pic in excess of par 15,000 Ob Dr. Cash 35,000 Cr. Common Stock 15,000 PIC in excess of par 20,000 Dr. Cash 20,000 Cr. Common Stock 16,000 PIC in excess of par 4,000 d Dr. Cash 5,000 C. Common Stock 4,000 PIC in excess of par 1,000 Previous page Next page stv ?

Expert Solution

cash	35000
Common stock		20000
PIC in excess of Par		15000

When 5000 common stock is issued for 7 (5000*7) cash is receved 35000.Common stock is credited for its Par value of 4(5000*4) is 20000 and 15000(3*5000) is credited for PIC In excess for par value

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