Multiple Choice
When common stock is issued by a corporation for a cash price above par value,the excess of the cash proceeds over the par value should be reported in the financial statements as a component of
A) retained earnings on the balance sheet.
B) total liabilities on the balance sheet.
C) operating income on the income statement.
D) total contributed capital on the balance sheet.
Correct Answer:
Verified
Correct Answer:
Verified
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