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 Value $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.
Correct Answer:
Verified
Correct Answer:
Verified
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