If a company issues 2,500 shares of $5 par value common stock at a market...
90.2K
Verified Solution
Link Copied!
Question
Accounting
If a company issues 2,500 shares of $5 par value common stock at a market price of $32 per share, which of the following is the correct balance sheet effect?
Group of answer choices
Increase cash $80,000, increase common stock $12,500 and increase additional paid in capital $67,500
Increase cash $80,000, increase common stock $40,000 and increase additional paid in capital $40,000
Increase cash $80,000, increase common stock $80,000
Increase cash $80,000, increase additional paid in capital $80,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
