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13. Statement of Cash Flows

13. Statement of Cash Flows / Significant Noncash Activities / Problem 15

Problem 15

If a company issues 300,000 shares of \$0.02 par value common stock to retire \$600,000 of bonds payable, what is the APIC?

A

\$300,000

B

\$600,000

C

\$594,000

D

\$6,000