If Merril Company Issues 9000 Shares of $5 Par Value

question 166

Multiple Choice

If Merril Company issues 9000 shares of $5 par value common stock for $160000 the account

• A) Common Stock will be credited for $45000.
• B) Paid-in Capital in Excess of Par will be credited for $45000.
• C) Paid-in Capital in Excess of Par will be credited for $160000.
• D) Cash will be debited for $115000.

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