Question
On January 2, Year 1, Torres Corporation issued 23,000 shares of $15 par-value common stock for $17 per share. Which of the following statements is
On January 2, Year 1, Torres Corporation issued 23,000 shares of $15 par-value common stock for $17 per share. Which of the following statements is true?
The cash account will increase by $345,000.
The paid-in capital in excess of par value account will increase by $46,000.
The common stock account will increase by $391,000.
Total equity will increase by $345,000.
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Management Accounting
Authors: Pauline Weetman
2nd Edition
0273718452, 978-0273718451
