When 1000 Shares of $3 Stated Value Common Stock Is

question 193

Multiple Choice

When 1000 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-Common 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-Common
• D) the accounting is exactly the same as the accounting for par value stock

---

Definitions:

Abstract Reasoning

The cognitive ability to understand and manipulate complex concepts not directly related to physical or concrete experiences.

Cultural Diffusion

The process through which cultural elements are borrowed from one society and incorporated into another, spreading ideas, beliefs, and innovations.

Hybrids of Cultures

The blending and merging of diverse cultures to create new, unique cultural phenomena or identities.

Ingenuity

The quality of being clever, original, and inventive, often in solving problems or creating something new.