Valor Company issued 5,000 shares of $1 par common stock for $30 per share, providing the company with $150,000 in cash. What effect, in addition to the increase in cash, does this transaction have on the accounting equation for Valor?
a. Common Stock increases $150,000.
b. Common Stock increases $5,000? Additional PaidÂin Capital—Common increases $145,000.
c. Common Stock increases $5,000; Retained Earnings increases $145,000.
d. Common Stock increases $5,000; Gain on Sale of Common Stock increases $145,000.
b
You might also like to view...
For an action to be called fraudulent, all of the following conditions are required except
a. poor judgment b. false representation c. intent to deceive d. injury or loss
The ________ calculates the critical path and determines how long an activity can be delayed without delaying the project.
Fill in the blank(s) with the appropriate word(s).
A customer that gives up and leaves the queue is?
a. Reneging b. Balking c. Jockeying d. Neither reneging, balking, nor jockeying
The first step in the resource leveling process is to create the resource loading table
Indicate whether the statement is true or false