When 1000 shares of $3 stated value common stock is issued at $18 per share, ________.
A) Common Stock — $3 Stated is credited for $18,000
B) the account titled Paid-In Capital in Excess of Stated-Common is used to record the issue price of the stock
C) the difference between the issue price and the stated value is credited to Paid-In Capital in Excess of Stated-Common
D) the accounting is exactly the same as the accounting for par value stock
C) the difference between the issue price and the stated value is credited to Paid-In Capital in Excess of Stated-Common
You might also like to view...
The world economy has changed profoundly as evident by the fact that the global competitors have steadily displaced or absorbed local competitors
Indicate whether the statement is true or false
If you are using a general idea or definition to make a specific case, you are using what method of reasoning?
a. deductive b. inductive c. emotive d. logical
In which of the following situations will the grantor trust rules apply?
A. The trust is revocable and mandates the distribution of income to the named beneficiary. B. The trust is irrevocable, the income must be paid out currently, and the trust assets will revert to the grantor at the end of nine years. C. The trust is irrevocable, and the trustee, who is also the grantor, has the power to distribute or accumulate income for the named beneficiary. D. The grantor trust rules will apply in each of the situations.
The critical path in a project network is the
A. Shortest path through the network. B. Network path with the most difficult activities. C. Longest path through the network. D. Network path with the most merge activities. E. Network path using the most resources.