Nexis Corp

Multiple Choice

Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credits are made to

A) Common Stock, $15,000, and Paid-In Capital in Excess of Par-Common Stock, $7,000
B) Common Stock, $22,000, and Retained Earnings, $15,000
C) Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000
D) Common Stock, $22,000