Alt Corpissues 5,000 Shares of $10 Par Value Common Stock at at $14

Multiple Choice

Alt Corp.issues 5,000 shares of $10 par value common stock at $14 per share.When the transaction is recorded, credits are made to:

A) Common Stock $50,000 and Paid-in Capital in Excess of Stated Value $20,000.
B) Common Stock $70,000.
C) Common Stock $50,000 and Paid-in Capital in Excess of Par Value $20,000.
D) Common Stock $50,000 and Retained Earnings $20,000.