1. Nexis Corp. issues 2,540 shares of $12 par value common stock at $16 per share. When the transaction is journalized, credit(s) are made to

a.Common Stock for $30,480 and Paid-In Capital in Excess of ParCommon Stock for $10,160

b.Common Stock for $10,160 and Retained Earnings for $30,480

c.Common Stock for $40,640

d.Common Stock for $30,480 and Paid-In Capital in Excess of Stated Value for $10,160

2. Alma Corp. issues 1,100 shares of $10 par common stock at $16 per share. When the transaction is journalized, credit(s) are made to

a.Common Stock for $17,600.

b.Common Stock for $11,000 and Paid-In Capital in Excess of ParCommon Stock for $6,600.

c.Common Stock for $6,600 and Retained Earnings for $11,000.

d.Common Stock for $11,000 and Paid-In Capital in Excess of Stated Value for $6,600.

3. Sneed Corporation issues 11,600 shares of $47 par preferred stock for cash at $63 per share. The entry to journalize the transaction will consist of a debit to Cash for $730,800 and a credit or credits to

a.Preferred Stock for $730,800

b.Paid-In Capital from Preferred Stock for $730,800

c.Preferred Stock for $545,200 and Paid-In Capital in Excess of ParPreferred Stock for $185,600

d.Preferred Stock for $545,200 and Retained Earnings for $185,600