Question
Last month, Flavio Inc. and Octavio Corp. each issued 12,500 shares of common stock in exchange for Cash. After their respective stock issues, Flavio debited
Last month, Flavio Inc. and Octavio Corp. each issued 12,500 shares of common stock in exchange for Cash. After their respective stock issues, Flavio debited Cash for $243,750, while Octavio debited Cash for $265,625. All of the shares issued by Flavio had a par value of $4 per share, while all of the shares issued by Octavio had a par value of $5 per share.\ Given this information, which of the following statements is accurate? \ Select answer from the options below\ A.Flavios credit to Paid-in Capital in Excess of ParCommon Stock was $9,375 less than Octavios. \ B.Flavios debit to Paid-in Capital in Excess of ParCommon Stock was $9,375 less than Octavios.\ C.Flavios credit to Paid-in Capital in Excess of ParCommon Stock was $34,375 less than Octavios.\ D.Flavios debit to Paid-in Capital in Excess of ParCommon Stock was $34,375 less than Octavios.
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