On February 1, authorized common stock was sold on a subscription basis at a price in excess of par value, and 20 percent of the subscription price was collected. On May 1, the remaining 80 percent of the subscription price was collected. Additional Paid-In Capital would increase on February 1 May 1 1. No Yes 2. Yes No 3. No No 4. Yes Yes
On February 1, authorized common stock was sold on a subscription basis at a price in excess of par value, and 20 percent of the subscription price was collected. On May 1, the remaining 80 percent of the subscription price was collected. Additional Paid-In Capital would increase on February 1 May 1 1. No Yes 2. Yes No 3. No No 4. Yes Yes
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...
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On February 1, authorized common stock was sold on a subscription basis at a price in excess of par value, and 20 percent of the subscription price was collected. On May 1, the remaining 80 percent of the subscription price was collected. Additional Paid-In Capital would increase on
February 1 May 1
1. No Yes
2. Yes No
3. No No
4. Yes Yes
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