Answered: If common stock is issued for an amount…

If common stock is issued for an amount greater than par value, the excess goes to what account? Oa. Legal Capital b. Retained Earnings C. Cash d. Paid-in-Capital in Exess of Par Value

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter15: Contributed Capital

Section: Chapter Questions

Problem 8MC: When treasury stock is purchased for cash at more than its par value, what is the effect on total...

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Question

If common stock is issued for an amount greater than par value, the excess goes to what account?
a. Legal Capital
b. Retained Earnings
C. Cash
d. Paid-in-Capital in Exess of Par Value
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