Correct Check My Work Feedback When a company issues common (or preferred) stock for cash, you should record the total par value (Number of Shares x Par Value per Share) in the Common (or Preferred) Stock account, with any excess recorded as Additional Paid-in Capital. Under the cost method, when the corporation reacquires its capital stock you should debit an account entitled Treasury Stock (and credit Cash or other appropriate asset accounts) for the cost paid to reacquire the shares. When the