Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 5 Days Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Aug 2017 My Price 5.00

corporation charter

A corporation was formed on January 1. the corporation charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corpoation issued 340 shares to its attorneys in payment of a $5400 charge for drawing up the articles of incorporation. The entry to record this transaction would include:

a.) a credit to Paid-in Capital in Excess Captial Excess of Par value, Common Stock for $5,400

b.) a credit to common stock for $5,400

c.) a Debit to Organization expenses for $3,400

d.) a debit to organization expenses for $5,400

e.) a debit to paid-in capital in excess of Par value, Common Stock for $2,000

MUST EXPLAIN for full points!!!

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 11:08 AM My Price 5.00

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