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majestico majestico
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7 years ago
Monarch Company reported Subscriptions Receivable-Common Stock of $1,500 and Common Stock Subscribed of $3,200 on its balance sheet. All the following are true except:
A) Monarch previously issued $1,700 of the subscribed stock.
B) the original stock subscribed totaled $3,200.
C) the remaining amount to be collected from subscribers before the shares will be issued is $1,500.
D) the amount previously collected on the stock subscriptions is $1,700.
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College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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AugustisAugustis
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5 years ago
Answer is A.
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