Issuing Par Value Stock Video Lessons

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Problem: ABC Company has the following authorized stock: Common stock: 1.00 par value, 100,000 shares. On 1/11/15, ABC Company issued 10,000 shares of common stock for $5 per share (cash). What is the credit to common stock?  

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ABC Company has the following authorized stock: Common stock: 1.00 par value, 100,000 shares. On 1/11/15, ABC Company issued 10,000 shares of common stock for $5 per share (cash). What is the credit to common stock?

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Based on our data, we think this problem is relevant for Professor Cainas' class at USF.