When stock is issued for cash,only the par value of the stock should be reported in the Stock account.

Name: When stock is issued for cash,only the par value of the stock should be reported in the Stock account.
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Quizplus · Accepted Answer

When stock is issued for cash, the par value of the stock is credited to the Stock account, and the excess of the issue price over the par value is credited to the Paid-in Capital in Excess of Par account.

When Stock Is Issued for Cash,only the Par Value of the Stock