If Kiner Company Issues 3,000 Shares of $5 Par Value

question 25

Multiple Choice

If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the account

• A) Common Stock will be credited for $15,000.
• B) Paid-in Capital in Excess of Par Value will be credited for $15,000.
• C) Paid-in Capital in Excess of Par Value will be credited for $70,000.
• D) Cash will be debited for $55,000.

---

Definitions:

England

A country that is part of the United Kingdom, known for its rich history, contributions to the arts and sciences, and as a global financial center.

Basic Innovations

Fundamental changes and introductions of new ideas, products, or methods that significantly alter industries or markets.

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targeted goals and objectives.

Birth Rate

Birth rate is a demographic measure representing the number of live births per 1,000 people in a given year.