Coolsys Corporation issued 30,000 shares of no-par value ordinary shares for €29.50 per share. Which of the following statements is TRUE? a. Retained Earnings account will increase by €855,000. b. Share Premium–Ordinary account will increase by €345,000. c. The Cash account will increase by €30,000. d. Share Capital–Ordinary account will increase by €885,000.
Coolsys Corporation issued 30,000 shares of no-par value ordinary shares for €29.50 per share. Which of the following statements is TRUE? a. Retained Earnings account will increase by €855,000. b. Share Premium–Ordinary account will increase by €345,000. c. The Cash account will increase by €30,000. d. Share Capital–Ordinary account will increase by €885,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Coolsys Corporation issued 30,000 shares of no-par value ordinary shares for €29.50 per share. Which of the following statements is TRUE?
a. Retained Earnings account will increase by €855,000.
b. Share Premium–Ordinary account will increase by €345,000.
c. The Cash account will increase by €30,000.
d. Share Capital–Ordinary account will increase by €885,000.
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