Multiple Choice
Irish Corporation issued (sold) 10,000 shares of its no-par common stock for $70 per share. The bylaws established a stated value of $10 per share. The transaction would increase the common stock account on the balance sheet by how much?
A) $0.
B) $600,000.
C) $100,000.
D) $700,000.
Correct Answer:
Verified
Correct Answer:
Verified
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