A Company Issues One Hundred Shares of No-Par Common Stock

question 165

Multiple Choice

A company issues one hundred shares of no-par common stock with a $10 stated value for $17 per share. The entry to record this issuance includes a:

• A)debit to Paid-in Capital in Excess of Stated Value-Common for $1,000.
• B)credit to Paid-in Capital in Excess of Stated Value-Common for $700.
• C)credit to Common Stock for $1,700.
• D)credit to Common Stock for $700.

---

Definitions:

Batches

Grouped sets of items that are processed or produced together.

Broken Pieces

Objects or materials that have been fractured or damaged into parts, no longer in their original condition.

Scatterplot

A graph in which the values of two variables are plotted along two axes, the pattern of the resulting points revealing any correlations present.

Histogram

A chart that represents the distribution of a dataset by way of rectangular bars, where the area of each bar is proportional to the frequency of items in each category.