The company issued 10,000 shares of $1 par common stock for cash of $40 per share. Which ONE of the following should be reported in the equity section of the company's balance sheet" O Paid-in Capital in Excess of Par for $400,000 V Paid-in Capital in Excess of Par for $390,000 O Paid-in Capital in Excess of Par for $10,000 O Common Stock at Par for $400,000 O Common Stock at Par for $390,000 The company repurchased 10,000 shares of common stock for a total of $300,000. Which ONE of the following should be reported in the company's balance sheet? O A liability decrease of $300.000 V A liability increase of $300,000 O An asset increase of $300,000 O An equity decrease of $300,000 O An equity increase of $300,000

The company issued 10,000 shares of $1 par common stock for cash of $40 per share. Which ONE of the following should be reported in the equity section of the company's balance sheet" O Paid-in Capital in Excess of Par for $400,000 V Paid-in Capital in Excess of Par for $390,000 O Paid-in Capital in Excess of Par for $10,000 O Common Stock at Par for $400,000 O Common Stock at Par for $390,000 The company repurchased 10,000 shares of common stock for a total of $300,000. Which ONE of the following should be reported in the company's balance sheet? O A liability decrease of $300.000 V A liability increase of $300,000 O An asset increase of $300,000 O An equity decrease of $300,000 O An equity increase of $300,000

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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