Team Shirts issued 20,000 shares of $2 par value stock for $20 per share.This transaction increased Cash $400,000 and increased Common stock ________.

Name: Team Shirts issued 20,000 shares of $2 par value stock for $20 per share.This transaction increased Cash $400,000 and increased Common stock ________.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The increase in Common stock is calculated by multiplying the number of shares issued by the par value per share. Thus, 20,000 shares * $2 par value = $40,000.

Team Shirts Issued 20,000 Shares of $2 Par Value Stock