Manley Corporation issued 2,500 shares of its $50 par,4% preferred stock on March 31,2019,at $80 per share.The amount credited to Paid-In Capital in Excess of Par - Preferred is $200,000.

Name: Manley Corporation issued 2,500 shares of its $50 par,4% preferred stock on March 31,2019,at $80 per share.The amount credited to Paid-In Capital in Excess of Par - Preferred is $200,000.
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Question

Quizplus · Accepted Answer

2,500 shares × $30 par = $75,000 is credit to Paid-In Capital in Excess of Par-Preferred.

Manley Corporation Issued 2,500 Shares of Its $50 Par,4% Preferred