New Corp Issues 2,000 Shares of $10 Par Value Common Stock

Multiple Choice

New Corp. issues 2,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to

A) Common Stock $20,000 and Paid-in Capital in Excess of Stated Value $12,000.
B) Common Stock $32,000.
C) Common Stock $20,000 and Paid-in Capital in Excess of Par $12,000.
D) Common Stock $20,000 and Retained Earnings $12,000.