Alma Corp Issues 1,000 Shares of $10 Par Common Stock at at $14

question 41

Multiple Choice

Alma Corp. issues 1,000 shares of $10 par common stock at $14 per share. When the transaction is recorded, credit(s) are made to

• A) Common Stock, $14,000
• B) Common Stock, $10,000, and Paid-In Capital in Excess of Par, $4,000
• C) Common Stock, $4,000, and Paid-In Capital in Excess of Stated Value, $10,000
• D) Common Stock, $10,000, and Retained Earnings, $4,000