If Lantz Company Issues 10,000 Shares of $5 Par Value

question 92

Multiple Choice

If Lantz Company issues 10,000 shares of $5 par value common stock for $210,000, the account

• A)Common Stock will be credited for $50,000.
• B)Paid-in Capital in Excess of Par Value will be credited for $50,000.
• C)Paid-in Capital in Excess of Par Value will be credited for $210,000.
• D)Cash will be debited for $160,000.

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