If Kiner Company issues 3,000 ordinary shares with a $5 par value for $70,000, the account
A) Share Capital-Ordinary will be credited for $15,000.
B) Share Premium-Ordinary will be credited for $15,000.
C) Share Premium-Ordinary will be credited for $70,000.
D) Cash will be debited for $55,000.
Correct Answer:
Verified
Q88: If ordinary shares are issued for an
Q89: Share Premium-Ordinary
A) is credited when no-par share
Q94: The sale of ordinary shares below par
A)
Q96: The face of a share certificate shows
Q97: Which of the following is not a
Q98: Jahnke Corporation issued 5,000 shares of
Q102: In the financial statements, organization costs appears
A)
Q103: Simon Company issued 4,000 ordinary shares with
Q104: New Corp.issues 2,000 ordinary shares with a
Q105: Kerwin Packaging Corporation began business in 2010
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents