Estes Corp. issued 4,000 shares of no-par common stock for $9 per share. Requirements 1. Record issuance

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Estes Corp. issued 4,000 shares of no-par common stock for $9 per share.

Requirements

1. Record issuance of the stock if the stock:

a. Is true no-par stock.

b. Has a stated value of $2 per share.

2. Which type of stock results in more total paid-in capital?

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Related Book For answer-question

Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780137858651

8th Edition

Authors: Tracie Miller Nobles, Brenda Mattison

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Question Posted: Jun 26, 2023 07:11 AM

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Estes Corp. issued 4,000 shares of no-par common stock for $9 per share. Requirements 1. Record issuance

Question:

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ANSWER 1Record issuance of the stock a If the stock is true nopar stock In this case since the stock is nopar there is no stated value assigned to eac...View the full answer

Horngrens Financial And Managerial Accounting The Financial Chapters

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