When 1,000 Shares of $3 Stated Value Common Stock Is

question 138

Multiple Choice

When 1,000 shares of $3 stated value common stock is issued at $18 per share,________.

• A)Common Stock - $3 Stated is credited for $18,000
• B)the account titled Paid-In Capital in Excess of Stated is used to record the issue price of the stock
• C)the difference between the issue price and the stated value is credited to Paid-In Capital in Excess of Stated
• D)the accounting is exactly the same as the accounting for par value stock

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