If Norben Company issues 4,000 shares of $5 par value common stock for $140,000,the accountCommon Stock will be credited for $140,000.Paid-in Capital in Excess of Par Value will be credited for $20,000.Paid-in Capital in Excess of Par Value will be credited for $120,000.Cash will be debited for $120,000.

Paid-in Capital in Excess of Par represents the amount investors pay for shares above their nominal…

Answered: If Norben Company issues 4,000 shares…

Cornerstones of Financial Accounting

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Chapter10: Stockholder's Equity

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If Kiner Company issues 1,000 shares of P5 par value common stock for P70,000, the асcount O Common Stock will be credited for P5,000. Paid-in Capital in Excess of Par Value will be credited for P5,000. Paid-in Capital in Excess of Par Value will be credited for P70,000. Cash will be debited for P65,000.
If Dakota company issues 1500 shares of six dollar par common stock for $75,000, which of the following would be true? A) Common stock will be credited for 75,000 B) Paid in capital in excess of power will be credited for 9000 C) Paid in capital in excess of power will be credited for 66,000 D) Cash will be debited for 66,000
If Swifty Corporation issues 3500 shares of $10 par value common stock for $351000, the account Cash will be debited for $351000. Common Stock will be credited for $316000. Paid-in Capital in Excess of Par Value will be credited for $351000. Paid-in Capital in Excess of Par Value will be credited for $386000.
14)If Mande Corp issues 7,000 shares of $30 par value common stock for $240,000, the account a)Common Stock will be debited for $210,000. b)Cash will be debited for $210,000. c)Paid-in Capital in Excess of Par Value will be credited for $180,000. d)Paid-in Capital in Excess of Par Value will be credited for $30,000.
If Novak Corp. issues 6000 shares of $10 par value common stock for $410000, the account Paid-in Capital in Excess of Par Value will be credited for $60000. Common Stock will be credited for $60000. Paid-in Capital in Excess of Par Value will be credited for $410000. Cash will be debited for $350000.
„If Salman Company issues 16,000 shares of 10 par value common stock for 560,000 .Paid-In Capital in Excess of Par value common stock will be credited for 400,000 .a .Cash will be debited for 400,000 .b O .Common Stock will be credited for 560,000 .Paid-In Capital in Excess of Sated value common stock will be credited for 160,000.d O يمنع الانتقال إلى السؤال التالي إجراء تغی يرات على هذه الإجابة.
If Salman Company issues 16,000 shares of 10 par value common stock for 560,000 Paid-In Capital in Excess of Par value common stock will be credited for 400,000 .a .Cash will be debited for 400,000 .b Common Stock will be credited for 560,000 Paid-In Capital in Excess of Sated value common stock will be credited for 160,000.d O
Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. The company then resells 400 of these shares for $20 per share. Which of the following is recorded at the time of the resale? a. Credit Common Stock for $400. b. Credit Treasury Stock for $8,000. c. Credit Common Stock for $8,000. d. Credit Additional Paid-In Capital for $1,600.
Gotham Inc. issued 10,000 shares of its $2 par value common stock for $25 per share. The journal entry to record this transaction should include the following: (check all that apply) Select one or more: a. debit "Common Stock" for $20,000. b. credit "Additional Paid-in Capital" for $250,000. c. debit "Cash" for $250,000. d. credit "Additional Paid-in Capital" for $230,000. e. credit "Common Stock" for $20,000. f. credit "Common Stock" for $250,000. g. credit "Additional Paid-in Capital" for $270,000.
The Snow Corporation issues 9,800 shares of $52 par value preferred stock for cash at $66 per share. The entry to record the transaction will consist of a debit to Cash for $646,800. What credit or credits will the entry consist of? Select the correct answer. -Preferred Stock for $509,600 and Retained Earnings for $137,200. -Paid-in Capital from Preferred Stock for $646,800. -Preferred Stock for $646,800. -Preferred stock for $509,600 and Paid-in Capital in Excess of Par Value - Preferred Stock for $137,200.
ABC Corporation issues 5,000 ordinary shares with a $50 par value for cash at $55 per share. The entry to record the transaction will consist of a debit to Cash for $275,000 and a credit or credits to
A company issues 500 shares of $10 par value common stock and 200 shares of $100 par value preferred stock for a lump sum of $236,000. At the issuance, the market price of the common shares is $80 each and market price of the preferred is $300 each. In the journal entry to record the issuance, how much should be recorded for Paid-in Capital in Excess of Par – Common Stock?

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