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harkovskaia [24]
3 years ago
6

When no-par stock is issued, the entire proceeds are credited to Capital Stock and this amount is viewed as legal capital not su

bject to withdrawal. True or False True False
Business
1 answer:
zhannawk [14.2K]3 years ago
6 0

Answer:

True

Explanation:

If there is no-par stock is issued, the entire proceeds are credited to Capital Stock. Also, the amount we get in for this capital amount can not be legally withdrawn for any purposes. It also reduces any responsibility faced from payable by the issuance of no face value. The journal entry will be as follows:

Cash Debit

Common stock Credit

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Explanation:

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3 years ago
Numeric Company uses the periodic inventory method and had no beginning inventory. The company purchased 7 units of inventory at
BigorU [14]

Answer:

$115

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_______ occurs when the inflation rate is less than zero percent.
nikitadnepr [17]

deflation occurs when inflation rate is less than zero percent

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