Question
On January 2, Year 1, Torres Corporation issued 22,000 shares of $15 par-value common stock for $25 per share. Which of the following statements is
On January 2, Year 1, Torres Corporation issued 22,000 shares of $15 par-value common stock for $25 per share. Which of the following statements is true?
Multiple Choice
The Common Stock account will increase by $550,000.
The Cash account will increase by $330,000.
Total stockholders equity will increase by $330,000.
The Paid-in Capital in Excess of Par Value account will increase by $220,000.
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Financial Accounting And Reporting A Global Perspective
Authors: Herv Stolowy, Yuan Ding
5th Edition
1473740207, 978-1473740204
