Abby Co issues 2,000 shares of $10 par value stock for $80,000, the credit to "paid-in capital in excess of par" would be $ 60,000 $ 80,000 $78,000 $ 2,000 None of these
Abby Co issues 2,000 shares of $10 par value stock for $80,000, the credit to "paid-in capital in excess of par" would be $ 60,000 $ 80,000 $78,000 $ 2,000 None of these
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Vikram
Transcribed Image Text:QUESTION 2
Abby Co issues 2,000 shares of $10 par value stock for $80,000, the credit to "paid-in capital in excess of par" would be
$ 60,000
$ 80,000
$ 78,000
$ 2,000
None of these
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