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On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

Respuesta :

Answer:

Explanation:

The journal entry to record the issuance of common stock is shown below:

Cash A/c Dr $1,000         (100 shares × $10)

    To Common Stock $1,000          (100 shares × $10)

(Being the issuance of stock is recorded)

While issuing the stock, we debited the cash account and credited the common stock so that the correct posting can be done

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