Multiple Choice
New Corp. issues 2,000 ordinary shares with a $10 par value at $16 per share. When the transaction is recorded, credits are made to
A) Share Capital-Ordinary $12,000 and Share Premium-Ordinary $20,000.
B) Share Capital-Ordinary $32,000.
C) Share Capital-Ordinary $20,000 and Share Premium-Ordinary $12,000.
D) Share Capital-Ordinary $20,000 and Retained Earnings $12,000.
Correct Answer:
Verified
Correct Answer:
Verified
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