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Q. If Kiner Company issues 3,000 shares of $5 par value common stock for $70,000, the accounta. Paid-in Capital in Excess of Par Value will be credited for $15,000.b. Common Stock will be credited for $15,000.c. Paid-in Capital in Excess of Par Value will be credited for $70,000.d. Cash will be debited for $55,000.
Kelley Brent, CA, is a partner in a one-office CA firm that audits Dane, Inc., a closely held corporation. Kelley''''s sister was recently appointed as the chief financial officer
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