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Posted on Aug 18, 2024

On January 2, 2016, Torres Corporation issued 25,000 shares of $20 par-value common stock for $25 per share. Which of the following statements is true?

The Paid-in Capital in Excess of Par Value account will increase by $125,000.

The Cash account will increase by $500,000.

Total equity will increase by $500,000.

The Common Stock account will increase by $625,000.

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