FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Irish Corporation issued (sold) 23,000 shares of common stock for $57 per share. The bylaws established a stated value of $5 per share. What is

Irish Corporation issued (sold) 23,000 shares of common stock for $57 per share. The bylaws established a stated value of $5 per share. What is the amount of increase in the common stock account as a result of this transaction?

$1,196,000.

$1,311,000.

$0.

$115,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Give an example of a statistic that is (a) robust to the extremes (b) not robust to the extremes.

Answered: 1 week ago

Question

★★★★★
Hans & Co. LLP, is auditing CCC Inc.'s 2011 financial statements. The firm previously audited the companys 2009 and 2010 financial statements. The 2009 audit resulted in a qualified opinion because...

Answered: 1 week ago

Question

★★★★★
At what rate must $25,300 be compounded annually for it to grow to $90,000 in 8 years? 16.7912% 17.1899% 20.5238% 19.4537%

Answered: 1 week ago

Question

★★★★★
Statistics Question Help A Statistics professor has observed that for several years students score an average of 114 points out of 150 on the semester exam. A salesman suggests that he try a...

Answered: 1 week ago

Question

★★★★★
2. (34%) The frame is subjected to a vertical 13 kip force at E and a horizontal 10 kip force a B. Neglect the self-weight of the frame. Find the internal forces (axial, shear, and bending moment) at...

Answered: 1 week ago

Question

★★★★★
Lightning Electronics is a midsize manufacturer of lithium batteries. The company's payroll records for the November 1-14 pay period show that employees earned wages totaling $70,000 but that...

Answered: 1 week ago

Question

★★★★★
Bob and Marcus are buying a house. They have $22000 for a down payment. The house price is $176000. They have secured a 25 year loan with an annual interest rate of 4.3% compounded monthly, Use Excel...

Answered: 1 week ago

Question

★★★★★
The pin-connected structure consists of two cold-rolled steel [E-26,000 ksil bars (1) and a bronze [E 12,000 ksi) bar (2) that are connected at pin D. Each steel bar has a cross-sectional area of...

Answered: 1 week ago

Question

★★★★★
Use the Dividend Discount Model to calculate the intrinsic value for Pepsi (PEP). Explain your assumptions for the discount rate and the expected dividend growth rate. Use the expected dividend...

Answered: 1 week ago

Previous Question Next Question