If Kiner Company issues 1,000 shares of $5 par value common stock for $70,000, the account
a. Common Stock will be credited for $5,000.
b. Paid-in Capital in Excess of Par Value will be credited for $5,000.
c. Paid-in Capital in Excess of Par Value will be credited for $70,000.
d. Cash will be debited for $65,000.
Ans: a. Common Stock will be credited for $5,000.
Business
You might also like to view...
The declining-balance method does not deduct the salvage value in computing the depreciation base.
a. true b. false
Business
Based on current projections, people of Hispanic heritage will compose at least 33 percent of the U.S. population in 2050
Indicate whether the statement is true or false
Business