A firm issued 10,000 shares of no par-value common stock, receiving proceeds of $40 per share. The accounting entry is
A) $0 in the common stock account.
B) $0 in the paid-in capital in excess of par account.
C) $400,000 in the common stock account.
D) $400,000 in the paid-in capital in excess of par account.
Correct Answer:
Verified
Q91: The purpose of nonvoting common stock is
Q92: The disadvantages of issuing common stock versus
Q93: A firm issued 10,000 shares of $2
Q94: Stock rights provide the stockholder with
A) certain
Q95: The preemptive right gives the shareholder the
Q97: A professional involved in analyzing securities and
Q98: All of the following are characteristics of
Q99: Advantages of issuing common stock versus long-term
Q100: A proxy statement gives the shareholder the
Q118: The constant growth model is an approach
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