Multiple Choice
The Nice Corporation issues 8,000 preference shares with a of $100 par value for cash at $110 per share.The entry to record the transaction will consist of a debit to Cash for $880,000 and a credit or credits to
A) Preference Shares for $880,000.
B) Share Premium-Preference Shares for $880,000.
C) Preference Shares for $800,000 and Retained Earnings for $80,000.
D) Preference Shares for $800,000 and Share Premium-Preference for $80,000.
Correct Answer:
Verified
Correct Answer:
Verified
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