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Alex73 [517]
3 years ago
11

ABC company issued 3000 shares of stock for $5 per share and issued 5000 shares for land valued at $10,000. How much cash did AB

C company receive from the issuing of stock.?
Business
1 answer:
stellarik [79]3 years ago
8 0

Answer:

The cash received by ABC company from the issuing of stock is $15,000.

Explanation:

It is given that ABC company issued 3000 shares of stock for $5 per share.

The cash received by ABC company from the issuing 3000 shares of stock is

Cash=3000\times \$5

Cash=\$15,000

It is also given that ABC company issued 5000 shares for land valued at $10,000. It means ABC company received land instead of cash. So, total cash received by ABC company from the issuing of stock is $15000

Therefore, the cash received by ABC company from the issuing of stock is $15,000.

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