Infosys Company issued 200,000 shares of its common stock for cash. The journal entry to record...

Infosys Company issued 200,000 shares of its common stock for cash. The journal entry to record the stock issue would include

Select one:
a. A debit to Common Stock
b. A debit to Retained Earnings
c. A credit to Cash
d. A credit to Common Stock

Solutions

Expert Solution

Answer is as follows:

Correct Option : d. A credit to common stock

Journal Entry:

Cash A/C Dr

To Common Stock A/C

ekkarill92 answered 2 years ago

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