The company issued 10,000 shares of $1 par common stock for cash of $40 per share. Which ONE of the following should be reported in the equity section of the company's balance sheet" O Paid-in Capital in Excess of Par for $400,000 V Paid-in Capital in Excess of Par for $390,000 O Paid-in Capital in Excess of Par for $10,000 O Common Stock at Par for $400,000 O Common Stock at Par for $390,000 The company repurchased 10,000 shares of common stock for a total of $300,000. Which ONE of the following should be reported in the company's balance sheet? O A liability decrease of $300.000 V A liability increase of $300,000 O An asset increase of $300,000 O An equity decrease of $300,000 O An equity increase of $300,000
The company issued 10,000 shares of $1 par common stock for cash of $40 per share. Which ONE of the following should be reported in the equity section of the company's balance sheet" O Paid-in Capital in Excess of Par for $400,000 V Paid-in Capital in Excess of Par for $390,000 O Paid-in Capital in Excess of Par for $10,000 O Common Stock at Par for $400,000 O Common Stock at Par for $390,000 The company repurchased 10,000 shares of common stock for a total of $300,000. Which ONE of the following should be reported in the company's balance sheet? O A liability decrease of $300.000 V A liability increase of $300,000 O An asset increase of $300,000 O An equity decrease of $300,000 O An equity increase of $300,000
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 2MC: Cary Corporation has 50,000 shares of 10 par common stock authorized. The following transactions...
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