If Stock Is Issued for Less Than Par Value, the Account

question 171

Multiple Choice

If stock is issued for less than par value, the account

• A) Paid-In Capital in Excess of Par Value is credited.
• B) Paid-In Capital in Excess of Par Value is debited if a debit balance exists in the account.
• C) Paid-In Capital in Excess of Par Value is debited if a credit balance exists in the account.
• D) Retained Earnings is credited.