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9 October, 03:46

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

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  1. 9 October, 04:00
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    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
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