A corporation issues 1,000 shares of common stock for $ 20,000. The stock has a par value of $5 per share. The journal entry to record the stock issuance would include a credit to:

Group of answer choices

Paid in Capital in Excess of Par - Common Stock for $15,000

Cash for $1,000

Preferred Stock for $20,000

Paid in Capital in Excess of Par - Common Stock for $5,000

Treasury stock shares are:

shares held by the U.S. Treasury Department

part of the total outstanding shares but not part of the total issued shares of a corporation

unissued shares that are held by the treasurer of the corporation

issued shares that are held by the treasurer of the corporation

A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 4-for-1 stock split, the number of shares outstanding after the split will be:

160,000 shares

10,000 shares

40,000 shares

120,000 shares