Question

ABC sells 400 shares of its $23 par common stock for $27. The entry would entail credit(s) to




A. Cash for $9,200.


B. Paid-In Capital in Excess of Par—Common for $800 and Common Stock for $10,800.


C. Paid-In Capital in Excess of Par—Common for $1,600 and Common Stock for $9,200.


D. Common Stock for $10,800.

Answer 1

Paid-in Capital in Excess of Par-Common for $1,600; Common Stock for $9,200