Which of the Following Journal Entries Is Correct When No-Par $\quad$

question 98

Multiple Choice

Which of the following journal entries is correct when no-par common stock is initially issued for cash? A. Cash
$\quad$ Common stock
B. Cash
$\quad$ Common stock
$\quad$ Capital in excess of par
C. Cash
$\quad$ Common stock
$\quad$ Retained earnings
D. Cash
$\quad$ Common stock
$\quad$ Gain on sale of stock

• A) Option A
• B) Option B
• C)Option C
• D)Option D

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