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3 years ago

If Dakota Company issues 1,500 shares of $6 par common stock for $75,000,

Business

1 answer:

HACTEHA [7]3 years ago

5 0

Answer:Option C Paid-In Capital in Excess of Par will be credited for $66,000

Explanation:

Given

No of shares 1,500

Par value $6

Common stock $75,000

Par value of stock = No of shares x Par value

=1500 x 6

=9,000

Excess paid in capital = Common stock - Par value

=75000-9000

=$66,000

So the Paid in capital which is excess of par value will be credited. It can also be termed as the market value of the shares. Par value will be mentioned in the share document. When there is additional paid in capital it is a credit balance in company accounts.

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3 years ago

onds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $10,000. If the issuing corporation rede

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Answer:

The correct answer is $15,000.

Explanation:

According to the scenario, the given data are as follows:

Bonds payable balance = $1,000,000

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= $15,000

Hence, the amount of gain is $15,000.

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