11 Select Answer: 12 Select Answer: Zillion Corpoation issued 100,000 shares of $1.00 par common stock at a price of $5.00 per share. What account is used for the extra money received, beyond the par value? A. It is net income and should go to Retained Earnings B. It represents a liability that the corporation must pay back C. It goes to the Paid in Capital in Excess of Par account and is not part of net income D. It should be reported on the income statement A corporation purchases shares of its own stock for the purpose of rewarding executives and other employees. These shares are called: A. preferred stock B. treasury stock C. stock dividends