south beach apparel issued 11,000 shares of $4 par value stock for $20 per share. what is true about the journal entry to record the issuance?

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10-11-2022
Business

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south beach apparel issued 11,000 shares of $4 par value stock for $20 per share. what is true about the journal entry to record the issuance?

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Qwline Qwline · Answer 1 · 2022-11-22T09:50:00+01:00

The journal entry would include a credit to additional paid-in capital $176000

An investor's payments over and above a stock's par value are referred to in accounting as "additional paid-in capital" (APIC). Frequently referred to as "contributed capital above par," When a company is in the initial public offering (IPO) phase, APIC happens when an investor purchases freshly issued shares from the company directly. Since it results in businesses receiving extra cash from stockholders, APIC, which is itemized under the shareholder equity (SE) section of a balance sheet, is seen as a profit opportunity for businesses.

There is a paid-in capital of $176,000 ($11,000 x ($20 - $4))

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