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If Company issues 3,000 shares of $8 par common stock for $51,000, a. Common Stock will be credited for $51,000. b. Paid-In Capital in Excess
If Company issues 3,000 shares of $8 par common stock for $51,000,
a. Common Stock will be credited for $51,000.
b. Paid-In Capital in Excess of Par will be credited for $27,000.
c. Cash will be debited for $24,000.
d. Paid-In Capital in Excess of Par will be credited for $24,000.
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Principles Of Accounting Volume 1 Financial Accounting
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
1st Edition
1593995946, 978-1593995942
