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please help with 1-4 1. The legal capital of a firm (amount in Common Stock account) is unaffected by a stock split. a. true b.
please help with 1-4
1. The legal capital of a firm (amount in Common Stock account) is unaffected by a stock split. a. true b. false 2. If stock is issued with no par or stated value, then there will be no *Additional Paid-in Capital' to record. . true b. false 3. Napis Co. is a brand new corporation that has never before issued any stock. The corporation has approved the issuance of 500 shares of stock with a $1 par value to John Giles in exchange for equipment professionally appraised at $900. The equipment account should be debited for: a. $500 b. $1,400 c. $900 d. Cannot tell from the information given 4. Radle Co. purchased 80 shares of treasury stock for $25 per share. The company later sold the shares for $20 per share. The account Paid-in Capital from Treasury Stock currently has a credit balance of $500 in it. The entry to record the sale of the shares would include a a. debit to Loss on Sale of Treasury Stock for $400. b. credit to Treasury Stock for $2,000. c. credit to Cash for $1,600. d. credit to Paid-in Capital from Treasury Stock for $400 Step by Step Solution
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