a . When stock is sold at a price above its par value, what amount is credited

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a. When stock is sold at a price above its par value, what amount is credited to the capital stock account?

b. What is the classification of the Paid-in Capital in Excess of Par account? What is its normal balance?

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Glencoe Accounting First Year Course

ISBN: 9780078688294

1st Edition

Authors: Andrée Vary

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Question Posted: Jun 14, 2022 08:34 AM

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a . When stock is sold at a price above its par value, what amount is credited

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1 The account used for the proceeds greater than par value is called Additional PaidInCapital The common stock account is credited for the amount of p...View the full answer

Glencoe Accounting First Year Course

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