On january 2, 2014, the hoover corporation issued 43,000 shares of $10 stated-value common stock for $29.50 per share. which of the following statements is true? the paid-in capital in excess of stated value account will increase by $838,500. the cash account will increase by $860,000. the common stock account will increase by $1,268,500. the stock payable account will increase by $1,268,500.

The Paid-in Capital in Excess of Stated Value account will increase by $838,500

Explanation:

The journal entry to record the issuance of common stock is shown below:

Cash A/c Dr $1,268,500     (43,000 shares × $29.50)

   To Common Stock $430,000         (43,000 shares × $10)

   To  Additional Paid-in Capital in excess of par - Common Stock $838,500

(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)

While issuing the stock, we debited the cash account and credited the common stock and additional paid-in capital account

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c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number