A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital is:

A) $100 B) $600 C) $1,000 D) $6,000 E) $7,000

Question

Eliza Frye

Business

24 April, 14:34

A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital is:

A) $100 B) $600 C) $1,000 D) $6,000 E) $7,000

+3

Answers (1)

Know the Answer?

Paulina Booker · Answer 1

A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital is: $6, 000

Explanation:

60 shares of $100 per value

therefore, the cost would be 60 X 100 = $6,000

A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital is:A) $100 B) $600 C) $1,000 D) $6,000 E) $7,000

A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital is:

A) $100 B) $600 C) $1,000 D) $6,000 E) $7,000