A company issued 60 shares of $100 par value common stock for $7,000 cash.
The journal entry to record the issuance is:

a) Debit Common Stock $6,000, debit Investment in Common Stock $1,000; credit Cash $7,000.
b) Debit Cash $7,000; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000.
c) Debit Cash $7,000; credit Common Stock $7,000.
d) Debit Cash $7,000; credit Paid-in Capital in Excess of Par Value, Common Stock $6,000, credit Common Stock $1,000.
e) Debit Investment in Common Stock $7,000; credit Cash $7,000.

b) Debit Cash $7,000; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000.

Explanation:

When shares are issued and paid for, the entries required are debit to cash account and  a credit to common stock. However, when the amount received is higher than the par value of the stock issued, the excess received is recorded as a share premium or Paid-in Capital in Excess of Par Value.

As such, where the par value is $100 and 60 shares were issued, value of common stock issued

= $100 * 60

= $6,000

Paid-in Capital in Excess of Par Value = $7,000 - $6,000

= $1,000

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.

false is correct i hope.

i might be