Question
On January 2, 2016, Torres Corporation issued 13,000 shares of $10 par-value common stock for $13 per share. Which of the following statements is true?
On January 2, 2016, Torres Corporation issued 13,000 shares of $10 par-value common stock for $13 per share. Which of the following statements is true? Total equity will increase by $130,000. The Paid-in Capital in Excess of Par Value account will increase by $39,000. The Cash account will increase by $130,000. The Common Stock account will increase by $169,000.
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Accounting Ethics
Authors: Ronald F. Duska, Brenda Shay Duska, Julie Anne Ragatz
2nd Edition
1405196130, 978-1405196130
