Question

if Mary Gold Corp. issues 4000 shares of $10 par value common stock for $36000 the account

Question 18 View Policies Current Attempt in Progress If Marigold Corp. issues 4000 shares of $10 par value common stock for $360000, the account Cash will be debited for $320000. Common Stock will be credited for $360000. Paid-in Capital in Excess of Par Value will be credited for $40000. Paid-in Capital in Excess of Par Value will be credited for $320000. e Textbook and Media Save for Later

Answer 1

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Correct option is: D. Paid - in - capital in excess of par value will be credited for $320,000
Workings:
Accounts Titles and Explanation	Debit	Credit
Cash	$       3,60,000
Common stock		$           40,000
Paid - in - capital in excess of par value		$       3,20,000