Question
ABC sells 400 shares of its $23 par common stock for $27. The entry would be entail credits to: a. Cash for $9,200. b. paid
ABC sells 400 shares of its $23 par common stock for $27. The entry would be entail credits to: a. Cash for $9,200.
b. paid in cash excess of Par-Common for $800; common stock for $10,800.
c. Paid -in capital in Excess of Par-Common for $1,600; common stock for $9,200.
d. Common Stock for $10,800.
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel
3rd Edition
0730302296, 978-0730302292
