Nelson Corporation Has $1 Par Value Common Stock and Has

question 25

Multiple Choice

Nelson Corporation has $1 par value Common Stock and has 100,000 shares authorized and 25,000 shares issued. The entry to record Nelson's purchase of 5,000 shares of common stock at $5 per share would include a:

• A) debit to Treasury Stock for $25,000.
• B) credit to Common Stock $25,000.
• C) credit to Paid-in Capital in Excess of Par Value - Common Stock for $20,000.
• D) debit to Common Stock $5,000.

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