Exhibit 15-1 Hanson Co

Exhibit 15-1 Hanson Co. issued 10,000 shares of its $5 par common stock for $15 a share. In addition, it incurred legal and accounting fees, stock certificate costs, and other related expenses totaling $18,500.

-Refer to Exhibit 15-1. Assume the sale was the initial issuance of stock at incorporation for Hanson Co. The entry to record the sale would include a

A) credit to Cash for $150,000
B) credit to Common Stock for $150,000
C) debit to Organization Expense for $18,500
D) credit to Additional Paid-in Capital on Common Stock for $81,500

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