Jackson Company is a publicly held co y issued 3,000 shares of Barton Company will rporation whose $1 par value stoc k is actively traded at $64 per share. The When recording this debit Land for $192,000. A 8 debit Land for $200,000. credit Common Stock for $192,000. C D credit Paid-In Capital in Excess of Par for $196,000. E none of the above. 16) East Asian Imports, Inc. issued 15,000 shares of stock at a stated value of $8 per share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a credit to Common Stock for $120,000. A credit to Common Stock for $125,000. B C debit to Cash for $120,000. D credit to Paid-in Capital in Excess of Par for $125,000. E none of the above. 17) Taylor Corporation issues 20,000 shares of $50 par value preferred stock for cash at $90 per share. The entry to record the transaction will consist of a debit to Cash for $1,800,000 and a credit or credits to A preferred Stock for $1,000,000 and Paid-in Capital in Excess of Par-Preferred B paid-in Capital from Preferred Stock for $1,800,000 C preferred Stock for $800,000 and Paid- in Capital from Preferred Stock for $1,000,000. D preferred Stock for $1,800,000. none of the above. E previously acquired at $14 per share, are sold a 2 18) Ten thousand per share. The entry to record this transaction will include A debit to Treasury Stock for $140,000. shares of treasury stock of E. Marcos, Inc. B credit to Treasury Stock for $200,000. debit to Paid-In Capital from Treasury Stock for $60,000. C credit to Paid-In Capital from Treasury Stock for $60,000. D E none of the above. 19) Adler Company originally issued 1,000 shares of $10 par value common stock for $20,000 ($20 per share). Adier later purchases 100 shares of treasury stock for $17, and then resells the shares for $19 per share. In the entry to record the sale of the treasury stock, there will be a debit to Paid-In Capital in Excess of Par for $2,000. A credit to Treasury Stock for $1,000. 8 credit to Common Stock for $1,700. C credit to Paid-In Capital from Treasury Stock for $200. none of the above