Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at par. Please provide the journal entry for this transaction.
Definitions:
Times Interest Earned Ratio
A financial ratio that measures a company's ability to meet its debt obligations by comparing its interest expense with its earnings before interest and taxes.
Income Statement
A financial statement that reports a company's revenues, expenses, and net income or loss over a specific period.
Premium on Bonds Payable
An amount by which a bond's selling price exceeds its face value, indicating that the bond was issued at a price higher than its nominal value.
Straight-Line Method
A method of calculating depreciation of an asset, where the cost of the asset is evenly divided over its useful life.
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