Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. if nolan company issues 1,000 shares of $5 par val

If Nolan Company issues 1,000 shares of $5 par value common stock for $70,000, the...

70.2K

Verified Solution

Question

Accounting

image
If Nolan Company issues 1,000 shares of $5 par value common stock for $70,000, the account Common Stock will be credited for $65,000. Paid-in Capital in Excess of Par Value will be credited for $70,000. Paid-in Capital in Excess of Par Value will be credited for $75,000. Cash will be debited for $70,000

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Questions 9-12 concern general information about each of the invertebrate phyla we discussed this semester. If...

Biology
Q

Find the characteristic equation and the eigenvalues (and corresponding eigenvectors) of the matrix. 2 ?2 5...

Advance Math
Q

The Dilemma/Question:Is organic produce better than non-organic?Help the Krackles with their dilemma by investigating the...

Biology
Q

Two light identical springs of spring constant k are attached horizontally at the two ends...

Physics
Q

Select the correct answer from each drop down menu Cameron is a member of a...

Basic Math
Q

For the standard normal distribution shown on the night find the probability of z occurring...

Algebra
Q

Swifty Realty Corporation purchased a tract of unimproved land for $54,000. This land was improved...

Accounting
Q

What distinguishes a merchandising business from a service business? Can a business earn a gross...

Accounting
Q

The amount of money that a firm pays to buy variable inputs is called Select...

Accounting
Q

Several years ago, Bill Smith borrowed $125,000 to buy his house. He has a 15...

Finance
Q

ch 8 James owns a two-stock...

Finance
Q

Part II: Write down 5 matters to consider for Financial Planning for Manchester United or...

Finance