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TB MC Qu. 11-67 (Static) Ms. Jessica Duffy purchased 1 share of $10 par value... Ms. Jessica Duffy purchased 1 share of $10 par value common stock from Ohio Corporation for $50 per share. Ms. Duffy sold that share to Mike Truesdale for $60 per share. As a result of the sale by Duffy to Truesdale sale, Ohio Corporation would: Multiple Choice not record this transaction. debit Common Stock and credit Additional Paid-in Capital for $10. debit Cash and credit Additional Paid-in Capital for $10. debit Cash and credit Common Stock for $10.

TB MC Qu. 11-67 (Static) Ms. Jessica Duffy purchased 1 share of $10 par value... Ms. Jessica Duffy purchased 1 share of $10 par value common stock from Ohio Corporation for $50 per share. Ms. Duffy sold that share to Mike Truesdale for $60 per share. As a result of the sale by Duffy to Truesdale sale, Ohio Corporation would: Multiple Choice not record this transaction. debit Common Stock and credit Additional Paid-in Capital for $10. debit Cash and credit Additional Paid-in Capital for $10. debit Cash and credit Common Stock for $10.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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TB MC Qu. 11-67 (Static) Ms. Jessica Duffy purchased 1 share of $10 par value... Ms. Jessica Duffy purchased 1 share of $10 par value common stock from Ohio Corporation for $50 per share. Ms. Duffy sold that share to Mike Truesdale for $60 per share. As a result of the sale by Duffy to Truesdale sale, Ohio Corporation would: Multiple Choice O O not record this transaction. debit Common Stock and credit Additional Paid-in Capital for $10. debit Cash and credit Additional Paid-in Capital for $10. debit Cash and credit Common Stock for $10.
Transcribed Image Text:TB MC Qu. 11-67 (Static) Ms. Jessica Duffy purchased 1 share of $10 par value... Ms. Jessica Duffy purchased 1 share of $10 par value common stock from Ohio Corporation for $50 per share. Ms. Duffy sold that share to Mike Truesdale for $60 per share. As a result of the sale by Duffy to Truesdale sale, Ohio Corporation would: Multiple Choice O O not record this transaction. debit Common Stock and credit Additional Paid-in Capital for $10. debit Cash and credit Additional Paid-in Capital for $10. debit Cash and credit Common Stock for $10.
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