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On June 1, 2011, Robin Company issued 100 shares of its common stock for cash of $12 per share. On Spetember 1, 2011, it issued
On June 1, 2011, Robin Company issued 100 shares of its common stock for cash of $12 per share. On Spetember 1, 2011, it issued an additional 100 shares of stock for $15 per share. Assuming the board has placed a stated value of $10 per share on this no-par stock, the balance in paid-in capital, in excess of stated value account after these two transactions would be:
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
