On february 2 2011 the tropic pool supply corporation, Ask an Expert

Accounting

On February 2, 2011, the Tropic Pool Supply Corporation issued 900 shares of no-par stock for $7 per share. Within two hours of the issue, the stock's price jumped on the UMSL stock exchange to $11 per share. Which of the following answers describes the effect of the February 2, 2011 transaction?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M983764

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