If Norben Company Issues 4,000 Shares of $5 Par Value

question 276

Multiple Choice

If Norben Company issues 4,000 shares of $5 par value common stock for $140,000, the account

• A) Common Stock will be credited for $140,000.
• B) Paid-in Capital in Excess of Par Value will be credited for $20,000.
• C) Paid-in Capital in Excess of Par Value will be credited for $120,000.
• D) Cash will be debited for $120,000.

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Temporary Assistance for Needy Families

A government aid program in the U.S. aimed at aiding low-income families to reach financial independence through monetary support and assistance services.

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Temporary Assistance for Needy Families, a government program that provides financial aid to eligible low-income families.

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Financial assistance payments made by the government to individuals or families, particularly those who are unemployed, disabled, or on low income.

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