Dallkin Corporation Issued 5 000 Ordinary Shares at $18 Per

Multiple Choice

Dallkin Corporation issued 5 000 ordinary shares at $18 per share on 1 January 2013. The journal entry for this transaction would:

A) credit Cash $90 000 and debit Ordinary shares capital $90 000.
B) debit Cash $90 000 and credit Ordinary share capital $90 000.
C) debit Cash $90 000 and credit Retained earnings $90 000.
D) credit Cash $90 000, debit Retained earnings $90 000.