If Keene Company Issues 9,000 Shares of $5 Par Value

question 41

Multiple Choice

If Keene Company issues 9,000 shares of $5 par value common stock for $160,000, the account

• A) Common Stock will be credited for $45,000.
• B) Paid-in Capital in Excess of Par will be credited for $45,000.
• C) Paid-in Capital in Excess of Par will be credited for $160,000.
• D) Cash will be debited for $115,000.

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