Multiple Choice
Alt Corp. issues 3,000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, credits are made to:
A) Common Stock $30,000 and Paid-in Capital in Excess of Stated Value $12,000.
B) Common Stock $28,000.
C) Common Stock $30,000 and Paid-in Capital in Excess of Par Value $12,000.
D) Common Stock $30,000 and Retained Earnings $12,000.
Correct Answer:
Verified
Correct Answer:
Verified
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