True or false? Issuance of....given answer Accounting True or false? Issuance of 1,000 shares of $5par value stock at $12 increases contributedcapital by $12,000.

Step 1: Define Issued SharesInsiders, institutional investors, and the general public (as reported…

Answered: True or false? Issuance of 1,000 shares…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...

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true or false.d. Issuing 1,000 shares of $5 par-value stock at $12 increases contributed capital by $12,000.
A corporation purchases 9,515 shares of its own $10 par common stock for $18 per share, recording it at cost. What will be the effect on total stockholders' equity? a.decrease by $171,270 b.increase by $171,270 c.decrease by $76,120 d.increase by $76,120
If 100 shares of treasury stock were purchased for $50 per share and then sold at $60 per share, $1,000 0f income is reported in the income statement. True False
1.000 shares of common stock with a par value of $5 is sold for $8. Which of the following is correct: A. Cash is debited for $5,000 B. Common Stock is debited for $5,000 C. Paid in Capital in Excess of Par is credited for $3,000 D. Common Stock is credited for $8,000
A company issues 10,000 shares of $0.05 par value common stock for $25 per share. Which of the following is recorded at issuance? a. Credit Common Stock for $250,000. b. Credit Additional Paid-In Capital for $250,000. c. Credit Common Stock for $500. d. Credit Additional Paid-In Capital for $500.
If a company issues 10,000 shares of $2 par value common stock at a market price of $30 per share, which of the following is the correct balance sheet entry? Select one: a. Increase common stock and cash by $20,000 b. Increase cash by $300,000 and increase contributed capital by $300,000 c. Increase cash by $300,000 and increase retained earnings by $300,000 d. Increase revenues by $300,000
If a company issues 10,000 shares of $2 par value common stock at a market price of $30 per share, which of the following is the correct balance sheet entry? A. Increase revenues by $300,000 B. Increase common stock and cash by $20,000 C. Increase cash by $300,000 and increase common stock by $20,000 D. Increase cash by $300,000 and increase additional paid-in capital by $20,000
Assume that a company paid $6 per share to purchase 1,100 shares of its $3 par common stock as treasury stock. The purchase of treasury stock A. increased total equity by $3,300. B. decreased total equity by $3,300. C. decreased total equity by $6,600. D. increased total equity by $6,600.
V1
If Company issues 3,000 shares of $8 par common stock for $51,000, a. Common Stock will be credited for $51,000. b. Paid-In Capital in Excess of Par will be credited for $27,000. c. Cash will be debited for $24,000. d. Paid-In Capital in Excess of Par will be credited for $24,000.
A company issued 50 shares of \$1.00 par value common stock for $ 9,000 . The credit to additional paid - in capital would be: A. $ 50 B. $ 9,050 C. $ 8,050 D. 9,000
A corporation purchases 41500 shares of its own $30 par common stock for $45 per share, recording it at cost. What will be the effect on total stockholders’ equity? Increase by $1245000 Decrease by $1867500 Increase by $1867500 Decrease by $1245000

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True or false? Issuance of 1,000 shares of $5 par value stock at $12 increases contributed capital by $12,000.