Question

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.

Answer 1

@PrincessHush

Answer 2

@TorilovesVampires