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imon QUESTION 34 Which of the following statements, regarding no-par stock, is incorrect? OA) Regardless of the stock's issue price, Cash is debited and Common Stock is credited for the cash received OB) There can be no Paid-in Capital in Excess of Par. O C) There is no par to be in excess of. OD) All of the statements are correct. QUESTION 35 August , Inc. had the following transactions in 2018, its first year of operations: Issued 22,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $16.00 per share. Issued 1800 shares of $160 par value preferred stock at par. Earned net income of $37,000. Paid no dividends. At the end of 2018, what is total stockholders' equity? m O A) $677,000 O B) $354,000 O C) $286,000 OD) $640,000 Click Save and Submit to save and submit. Click See All Answers to sate alla sera. QUESTION 36 per share. May, Inc. had the following transactions in 2019, its first year of operations: Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 Issued 2000 shares of $200 par value preferred stock at par. Earned net income of $40,000. Paid no dividends. At the end of 2019, what is the total amount of paid-in capital? OA) $820,000 O B) $460,000 O C) $380,000 OD) $780,000 QUESTION 37 Treasury stock O A) decreases the number of shares issued O B) increases the number of shares issued o C) increases the number of shares outstanding D) decreases the number of shares outstanding

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