Question 3
10 pts
Wang Corporation issued 800 shares of $50 par value common stock for $60 per
share. Which of the following journal entries is recorded correctly?
DR: Common Stock $40,000 and Additional Paid-In Capital from Common Stock $8,000; CR: Cash $48,000
DR: Common Stock $48,000; CR: Cash $48,000
DR: Cash $48,000; CR: Common Stock $40,000 and Additional Paid-In Capital from Common Stock $8,000
DR: Cash $40,000; CR: Common Stock $40,000
DR: Cash $48,000; CR: Common Stock $48,000