Bentley corporation received cash from issuing 12 comma 000 shares of common stock at par on january 1, 2018. the stock has a par value of $ 0.01 per share. which is the correct journal entry to record this transaction?
a) cash is credited for $16,000 and common stock - $0.01 par value is debited for $16,000
b) cash is debited for $160, and common stock - $0.01 par value is credited for $160
c) paid-in capital in excess of par - common is debited for $15,840, and common stock-$0.01 par value is credited for $15,840
d) cash is debited for $16,000 common stock - $0.01 par value is credited for $160 and paid- in capital in excess of par - common credited for $15,840

Option B is correct for entry but value is wrong value should be $120

Explanation:

The options provided are not correct, where shares are issued at par value no additional capital is credited.

As the number of shares = 12,000

Par value per share = $0.01

Total par value = $0.01 12,000 = $120

Therefore, issue of shares entry will be

Cash A/c Dr.                 $120

        To Common Stock             $120

Thus no option is correct, as for the entry option B is correct but the values are wrong.

a.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi