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Wyler Company issued 20,000 shares of $10 par value common stock in exchange for a...

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Question

Accounting

Wyler Company issued 20,000 shares of $10 par value common stock in exchange for a building with a current fair value of $1,000,000. In recording this transaction, what amount should be credited to the Paidin Capital in Excess of Par Value account?

Select one:

$200,000

$980,000

$800,000

$1,000,000

Answer & Explanation Solved by verified expert
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