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Homework answers / question archive / Mena Company was established on January 1, The corporate charter authorized 1,000,000 shares of S10 par value common stock

Mena Company was established on January 1, The corporate charter authorized 1,000,000 shares of S10 par value common stock

Accounting

Mena Company was established on January 1, The corporate charter authorized 1,000,000 shares of S10 par value common stock. During the first month of opration the corporation issued 600 shares to its attorneys in payment of a $8.000 charge for drawing up the articles of Incorporation. The entry to record this transaction would include: A. A credit to Common Stock for $8.000 B. A debit to Pald-in Capital in Excess of Par Value. Common Stock for $2,000. CA debit to Organization Expenses for 56,000. D. A credit to Pald in Capital in Excess of Par Value, Common Stock for $2.000

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