A Firm Issued 10,000 Shares of No Par-Value Common Stock

question 62

Multiple Choice

A firm issued 10,000 shares of no par-value common stock, receiving proceeds of $40 per share. The accounting entry is

• A) $0 in the common stock account.
• B) $0 in the paid-in capital in excess of par account.
• C) $400,000 in the common stock account.
• D) $400,000 in the paid-in capital in excess of par account.

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Definitions:

Woman

A woman is an adult human female. In terms of biology, women are distinguished by their reproductive anatomy, although the concept of womanhood can encompass wider social and gender identity aspects.

Structuralism

Structuralism is an approach in academic disciplines that explores the interconnectedness of systems within human cultures and societies.

Introspection

The practice of looking into one's own mental and emotional well-being.

Unreliability

The quality of lacking consistency or predictability; unable to be trusted to perform or behave as expected.