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Sandhill Inc. issued 7800 shares of no-par common stock with a stated value of $6 per share. The market price of the stock on
Sandhill Inc. issued 7800 shares of no-par common stock with a stated value of $6 per share. The market price of the stock on the date of issuance was $15 per share. The entry to record this transaction includes a O credit to Common Stock for $117000. O debit to Cash for $46800. O debit to Paid-in Capital in Excess of Par for $117000. O credit to Common Stock for $46800. Marigold Corporation began business by issuing 406000 shares of $5 par value common stock for $22 per share. During its first year, the corporation sustained a net loss of $39900. The year-end balance sheet would show O Total paid-in capital of $2069900. O Common stock of $8932000. O Common stock of $2030000. O Total paid-in capital of $8892100. Swifty Corporation began business by issuing 691400 shares of $5 par value common stock for $20 per share. During its first year, the corporation sustained a net loss of $62100. The year-end balance sheet would show Total paid-in capital of $13765900. Total paid-in capital of $10371000. O Common stock of $13828000. O Common stock of $3457000.
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