If a Corporation Issues 4,000 Shares of $1 Par Value

question 34

Multiple Choice

If a corporation issues 4,000 shares of $1 par value common stock for $8,000,the journal entry would include a credit to:

• A)Common Stock for $8,000.
• B)Paid-in Capital in Excess of Par-Common for $8,000.
• C)Common Stock for $4,000.
• D)Retained Earnings for $4,000.