Dillon snowboards ltd. issued 60 no-par-value common shares for $10,000. The amount of contributed capital arising...
Dillon snowboards ltd. issued 60 no-par-value common shares for $10,000. The amount of contributed capital arising from this transaction is:
Homework Answers
As Dillon snowboards issued 60 no-par value common shares for $10,000. Therefore the contributed capital arising from this transaction is $ 10,000.
Contributed Capital = $ 10,000
Analysis:
whenever company issued "No-par-value" shares then the full amount credited to the common stock unlike the par value where stock amount dividend between the common stock and paid-in capital in excess of par value. Therefore any amount arising from issue of no-par value will be the amount of contributed capital.
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Dillon snowboards ltd. issued 60 no-par-value common shares for
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