If Larger Company issues 2,600 shares of $5 par value common stock for $54,600, determine the result

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If Larger Company issues 2,600 shares of $5 par value common stock for $54,600, determine the result of the transaction on the accounts.

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Common Stock will be credited for $54,600.

Paid-in Capital in excess of Par Value will be credited for $25,200.

Cash will be debited for $12,600.

Paid-in Capital in excess of Par Value will be credited for $12,600.

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Posted Date: Feb 04, 2022 05:55 AM

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If Larger Company issues 2,600 shares of $5 par value common stock for $54,600, determine the result

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2600shares pur 5 per va... View the full answer

Intermediate Accounting

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