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Voonik solvers inc. receives

Question: Vonik Solvers Inc. receives $40,000 in cash by issuing 15,000 shares of common stock at the par value of $2 per share. Which of the following is the correct journal entry to record this transaction?

Common Stock                         40,000

          Cash                                              30,000

          Additional Paid-in Capital                        10,000

Cash                                         40,000

          Common Stock                                     30,000

          Additional Paid-in Capital                       10,000

Cash                                         80,000

          Common Stock                                     30,000

          Additional Paid-in Capital                       50,000

Common Stock                         80,000

          Cash                                              30,000

          Additional Paid-in Capital                        50,000

 

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