Question
A company sold 20,000 shares of its $2.00 per value common stock for $95,000. The buyers of the stock paid the company $95,000 in cash.
A company sold 20,000 shares of its $2.00 per value common stock for $95,000. The buyers of the stock paid the company $95,000 in cash.
Which is true?
Company will credit additional-paid-in-capital common stock $95,000
Company will credit common stock $95,000
Company will debit common stock $20,000
Company will credit additional-paid-in-capital common stock $75,000
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Interpreting And Analyzing Financial Statements
Authors: Karen P. Schoenebeck
3rd Edition
0130082163, 9780130082169
