Question
On January 2, Year 1, Torres Corporation issued 12,000 shares of $10 par-value common stock for $12 per share. Which of the following statements is
On January 2, Year 1, Torres Corporation issued 12,000 shares of $10 par-value common stock for $12 per share. Which of the following statements is true?
Multiple Choice
The Paid-in Capital in Excess of Par Value account will increase by $24,000.
Total stockholders' equity will increase by $120,000.
The Cash account will increase by $120,000.
The Common Stock account will increase by $144,000.
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Accountancy And The Changing Landscape Of Integrated Reporting
Authors: Ioana Dragu
1st Edition
1522536221, 9781522536222
