A company issued 60 shares of $100 par value common stock for $7,000 cash.The total amount of paid-in capital is:
A)$100.
B)$600.
C)$1,000.
D)$6,000.
E)$7,000.

Name: A company issued 60 shares of $100 par value common stock for $7,000 cash.The total amount of paid-in capital is: A)$100. B)$600. C)$1,000. D)$6,000. E)$7,000.
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Question

Quizplus · Accepted Answer

The total amount of paid-in capital is the amount of cash received from issuing the shares, which is $7,000.

A Company Issued 60 Shares of $100 Par Value Common