CAL Brief Exercise 11-2 Your answer is partially correct. Try again On May 10, S

Question

CAL Brief Exercise 11-2 Your answer is partially correct. Try again On May 10, Swifty Corporation issues 3,100 shares of $4 par value common stock for cash at $14 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. select No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit May 10 [cash 43400 Common Stock 31000 paid-in Capital in Excess of Par Value-Common Stock SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORTAL Question Attempt

Explanation / Answer

Journal entry :

Date account titles and explanation debit credit May 10 Cash 43400 Common stock (3100*4) 12400 Paid in capital in excess of par value-common stock 31000

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