1. Pau Corporation issued 10,000 shares of P20 par value common stock at P50 per share. The amount that would be credited to Paid-in Capital in excess for Par-Common is:

a) 200,000

b) 300,000

c) 500,000

d) 700,000

2. If Bevin reissued 500 shares of the treasury stock for P36 per share, the entry is

a) Cash 18,000 Treasury Stock 15,000 Paid-in capital from treasury stock 3,000

b) Cash 18,000 Treasury stock 18,000

c) Cash 18,000 Treasury stock 15,000 Retained earnings 3,000

d) Cash 18,000 Treasury stock 10,000 Retained earnings 8,000

3. What is the entry to record issuance of stock after all the cash have been received from a stock subscription, assuming an entry to record common stock authorized was made at the time of incorporation?

a) Subscribed common stock Common stock

b) Subscribed common stock Common stock Paid-in capital in excess of par

c) Subscribed common stock Unissued common stock

d) Subscription receivable Subscribed common stock Paid-in capital in excess of par

4. On February 1, 2019 authorized common stock was sold on a subscription basis at a price in excess of par value, and 20% of the subscription price was collected. On May 1, the remaining 80% of the subscription price was collected. Additional paid-in capital increased on February 1 May 1

a) No Yes

b) No No

c) Yes No

d) Yes Yes