collected. Additional paid- capital would increase on

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 1P: Subscriptions On August 3, 2019, the date of incorporation, Quinn Company accepts separate...
icon
Related questions
Question
31. On February 1, authorized
ordinary share capital was sold
on a subscription basis at a
price in excess of par value,
and 20% of the subscription
price was collected. On May 1,
the remaining 80% of the
subscription price was
collected. Additional paid-in
capital would increase on
a. February 1 - NO; May 1 - YES
b. February 1 - NO; May 1 - NO
c. February 1 - YES; May 1 - NO
d. February 1 - YES; May 1 - YES
Transcribed Image Text:31. On February 1, authorized ordinary share capital was sold on a subscription basis at a price in excess of par value, and 20% of the subscription price was collected. On May 1, the remaining 80% of the subscription price was collected. Additional paid-in capital would increase on a. February 1 - NO; May 1 - YES b. February 1 - NO; May 1 - NO c. February 1 - YES; May 1 - NO d. February 1 - YES; May 1 - YES
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning