Maercker Company has 130,000 shares authorized and 10,000 shares issued of $30 par value common stock. On January 1, 2019, the company issues an additional 2,000 shares of common stock in exchange for a building, which has a market value of $900,000.
The journal entry to record the exchange will cause Total Paid-in Capital to:
A) Increase by $ 60,000
B) Increase by $300,000
C) Increase by $540,000
D) Increase by $900,000
Correct Answer:
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