Nexis Corp

question 140

Multiple Choice

Nexis Corp. issues 1,000 shares of $15 par value common stock at $25 per share. When the transaction is recorded, credits are made to:

• A) Common Stock $15,000 and Paid-in Capital in Excess of Par Value $10,000.
• B) Common Stock $25,000 and Retained Earnings $15,000.
• C) Common Stock $15,000 and Paid-in Capital in Excess of Stated Value $10,000.
• D) Common Stock $25,000.

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Definitions:

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