radomes.openskiesproject.org
nolackin nolackin
  • 08-01-2017
  • Business
Answered

In exchange for $1,500 legal services to help set up the new company, Hickory Grove Corporation issued 100 shares of $10 par value stock to its attorney. The entry to record the issuance of the stock would include a A. credit to Common Stock for $1,000. B. debit to Common Stock for $1,000. C. credit to Common Stock for $1,500. D. debit to Paid-In Capital in Excess of Par Value for $500.

Verified Answer :

angieh1667
angieh1667 angieh1667
  • 09-01-2017

a credit to common stock for 1000

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