Swifty Corporation issues 2500 shares of $ 10 par value common stock at $ 12 per share.

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Swifty Corporation issues 2500 shares of $10 par value common stock at $12 per share. When the transaction is recorded, credits are made to:

Common Stock $30000.

Common Stock $25000 and Retained Earnings $5000.

Common Stock $25000 and Paid-in Capital in Excess of Par Value $5000.

Common Stock $25000 and Paid-in Capital in Excess of Stated Value $5000.

Related Book For answer-question

Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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Posted Date: Apr 19, 2022 10:08 AM

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Swifty Corporation issues 2500 shares of $ 10 par value common stock at $ 12 per share.

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The correct answer is the last option C ommon Stock 25000 a... View the full answer

Financial Accounting

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