If a Corporation Issues 5,000 Shares of $5 Par Value

question 1

Multiple Choice

If a corporation issues 5,000 shares of $5 par value common stock for $95,000,the journal entry would include a credit to:

• A)Common Stock for $95,000.
• B)Paid-in Capital in Excess of Par-Common for $95,000.
• C)Common Stock for $70,000.
• D)Paid-in Capital in Excess of Par-Common for $70,000.