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Question 40 Maercker Company has 130,000 shares authorized and 10,000 shares issued of...

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Accounting

Question 40

Maercker Company has 130,000 shares authorized and 10,000 shares issued of $10 par value common stock. On January 1, 2016, the company issues an additional 2,000 shares of common stock in exchange for a building, which has a market value of $300,000. The journal entry to record the exchange will cause Total Paid-In Capital to:

A.

Increase by $20,000
B.

Increase by $100,000
C.

Increase by $180,000
D.

Increase by $300,000

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