Question
Alma Corp. issues 1,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to: a.
Alma Corp. issues 1,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to:
| a. | Common Stock $10,000 and Paid-in Capital in Excess of Par Value $6,000. | |
| b. | Common Stock $10,000 and Retained Earnings $6,000. | |
| c. | Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $6,000. | |
| d. | Common Stock $16,000. |
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
2nd Edition
0030270995, 978-0030270994
