GEN COMBO ADVANCED ACCOUNTING; CONNECT ACCESS CARD
GEN COMBO ADVANCED ACCOUNTING; CONNECT ACCESS CARD
13th Edition
ISBN: 9781260087383
Author: Joe Ben Hoyle
Publisher: McGraw-Hill Education
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Chapter 6, Problem 21P

On January 1, 2018, Stamford issues 10,000 additional shares of common stock for $15 per share. Neill does not acquire any of this newly issued stock. How does this transaction affect the parent company’s Additional Paid-In Capital account?

  1. a. Has no effect on it.
  2. b. Increases it by $44,000.
  3. c. Decreases it by $35,200.
  4. d. Decreases it by $55,000.
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GEN COMBO ADVANCED ACCOUNTING; CONNECT ACCESS CARD

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