ABC Corporation issues 1,000 shares of $10 par value common stock at $12 per share. In recording

Question:

ABC Corporation issues 1,000 shares of $10 par value common stock at $12 per share. In recording the transaction, credits are made to:

(a) Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $2,000.

(b) Common Stock $12,000.

(c) Common Stock $10,000 and Paid-in Capital in Excess of Par $2,000.

(d) Common Stock $10,000 and Retained Earnings

$2,000.

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