Elance Exams Answers PDF file

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If Company X issued 10,000 shares with a stated value of $1 per share at $5 a share, how would this transaction be reflected on their balance sheet?

Credit to Cash for 50,000; Debit to Common Stock for 10,000; Credit to Additional Paid in Capital for 40,000
Debit to Cash for 50,000; Credit to Common Stock for 40,000; Credit to Additional Paid in Capital for 10,000
Debit to Cash for 50,000; Credit to Common Stock for 50,000
Debit to Cash for 50,000; Credit to Common Stock for 10,000; Credit to Additional Paid in Capital for 40,000
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