A firm issued 10,000 shares of no par-value common stock, receiving proceeds of $40 per share. The amount recorded is ________
A) $0 in the Common Stock account
B) $0 in the Paid-in Capital in Excess of Par account
C) $400,000 in the Common Stock account
D) $400,000 in the Paid-in Capital in Excess of Par account
C
Business
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A business repays the amount borrowed on a note with cash. Which of the following accounts is debited?
A) Cash B) Accounts Payable C) Notes Payable D) Notes Receivable
Business
For each of the following accounts, indicate what event causes the account to increase and to decrease
The answer is not debit or credit. Account Is increased by: Is decreased by: Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold What will be an ideal response
Business