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Holden Bicycles Has 2,000 Shares Outstanding Each with a Par

Question 14

Multiple Choice

Holden Bicycles has 2,000 shares outstanding each with a par value of $0.50. If they are sold to shareholders at $12 each,what would the capital surplus be?


A) $1,000
B) $12,000
C) $15,000
D) $23,000
E) $24,000

Correct Answer:

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