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If Kiner Company Issues 3,000 Ordinary Shares with a $5

Question 101

Multiple Choice

If Kiner Company issues 3,000 ordinary shares with a $5 par value for $70,000, the account


A) Share Capital-Ordinary will be credited for $15,000.
B) Share Premium-Ordinary will be credited for $15,000.
C) Share Premium-Ordinary will be credited for $70,000.
D) Cash will be debited for $55,000.

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