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

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

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 17E: Reporting paid-in capital The following accounts and their balances were selected from the...

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

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

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