Please help me fill out the white boxes and show how you got your answer. Thank

Question

Please help me fill out the white boxes and show how you got your answer. Thank you.

Marin Corporation issued 1,800 shares of its $10 par value common stock for $52,500. Marin also incurred $1,700 of costs associated with issuing the stock. Prepare Marin's journal entry to record the issuance of the company's stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, "No Entry" for the account titles and enter o for the amounts Account Titles and Explanation Debit Credit Common Stock Paid-in Capital in Excess of Par - Common Stock

Explanation / Answer

total cash received by issue of shares $52,500

face value of sahre is $10 pe share

total face value of money received on issue of 1,800 shares 1800*$10= $18,000

share premium recived ($52,500-$18,000)=$34,500

so the journal entry would be

DEBIT CREDIT

Cash a/c $52,500 -

common stock a/c - $18,000

paid -in- capital inexcessof per -common stock - $34,500

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