Business
The journal entry to issue 1,000,000 shares of $5 par common stock for $9 per share on July 2 would be _______.a. July 2Cash5,000,000 Common Stock5,000,000 b. July 2Cash9,000,000 Common Stock9,000,000 c. July 2Cash5,000,000 Paid-In Capital in Excess of ParCommon Stock4,000,000 Common Stock9,000,000 d. July 2Cash9,000,000 Common Stock5,000,000 Paid-In Capital in Excess of ParCommon Stock4,000,000
A student's bank statement reflects $1,600 at month end. The student's checkbook, before reconciling, reflects $1,500. The student has $5 of interest on the bank statement which has not been posted to his/her checkbook, deposits in transit of $100, and outstanding checks of $195. What is the reconciled bank balance?a. $1,400b. $1,520c. $1,510d. $1,505