Olsson Corporation received a check from its underwriters for $70 million. This was for the issue
of one million of its $5 par stock that the underwriters expect to sell for $70 per share.
below are the choices for an answer.. which one?
Olsson Corporation received a check from its underwriters for $70 million. This was for the issue
of one million of its $5 par stock that the underwriters expect to sell for $70 per share.
Which is the correct entry to record the issue of the stock?
Solution
Right answer is Option A