Alma Corp Issues 1,000 Shares of $10 Par Value Common Stock

Multiple Choice

Alma Corp. issues 1,000 shares of $10 par value common stock at $16 per share. When the transaction is recorded, credits are made to:

A) Common Stock $16,000.
B) Common Stock $10,000 and Paid-in Capital in Excess of Par Value $6,000.
C) Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $6,000.
D) Common Stock $10,000 and Retained Earnings $6,000.