Record an increase in additional paid-in capital, Accounting Basics

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Record an increase in additional paid-in capital

On June 1, Mason Company issued 8,000 shares of its $10 par common stock to Dixon for a tract of land. The stock had a fair market value of $18 per share on this date. On Dixon's last property tax bill, the land was assessed at $96,000. Mason should record an increase in Additional Paid-In Capital of:

a. $96,000.

b. $64,000.c. $40,000.

d. 16,000

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Accounting Basics: Record an increase in additional paid-in capital

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Accounting Basics: Record an increase in additional paid-in capital

Reference No:- TGS066822

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Accounting Basics: Record an increase in additional paid-in capital

Reference No:- TGS066822

Recent Questions Asked Accounting Basics

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