11 when common stock is issued the par value or stated value of the shares issued is 4303844



11.When common stock is issued, the par value, or stated value, of the shares issued is recorded in the Common Stock account. 




12.Organization costs are carried indefinitely as an intangible asset in the records of the corporation. 




13.Organization costs are often expensed when incurred. 




14.Preferred Stock is shown in the Stockholders' Equity section of the balance sheet. 




15.The amount received in excess of the par value of preferred stock issued is recorded in an account called Paid-in Capital in Excess of Par Value—Preferred Stock. 




16.Stock is issued to investors at the time they sign the stock subscription contract. 




17.Subscriptions Receivable is the control account for the subscribers' ledger. 




18.The entry to record a subscription for 100 shares of common stock at par value would consist of a debit to Subscriptions Receivable—Common and a credit to Common Stock. 




19.Just like No-par-value stock, par value stock can be sold for any price. 




20.When shares of a corporation's stock are transferred from one investor to another, an entry is recorded in the capital stock transfer journal. 




21.The stockholders' ledger for a class of stock is a subsidiary ledger, and the total shares shown must agree with the number of shares in the capital stock account for that class. 




22.A separate Common Stock account is kept in the general ledger for each common stockholder of a corporation. 




23.Assets acquired through the issuance of stock are recorded at their historical cost. 




24.State laws prohibit the issuance of stock at less than par or stated value. 




25.Common Stock Subscribed is an equity account. 






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