ABC Corporation issues 1,000 shares of ($ 10) par value common stock at ($ 12) per share.
Question:
ABC Corporation issues 1,000 shares of \(\$ 10\) par value common stock at \(\$ 12\) per share. When the transaction is recorded, credits are made to:
(a) Common Stock \(\$ 10,000\) and Paid-in Capital in Excess of Stated Value \(\$ 2,000\).
(b) Common Stock \(\$ 12,000\).
(c) Common Stock \(\$ 10,000\) and Paid-in Capital in Excess of Par Value \(\$ 2,000\).
(d) Common Stock \(\$ 10,000\) and Retained Earnings \(\$ 2,000\).
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9780471169192
1st Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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