Question: When par or stated value stock is issued, the amount received above the par or stated value is recorded in the Blank _ _ _

When par or stated value stock is issued, the amount received above the par or stated value is recorded in the Blank______ account.
Multiple choice question.
paid-in capital in excess of par (or stated) value
common stock
gain on sale of par (or stated) value stock
retained earnings

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Cullumber Corporation issued 2 , 4 0 0 shares of stock. Prepare the entry for the issuance under the following independent assumptions. ( Credit account titles are automatically indented when the...

Q:

Skysong, Inc issued 2,950 shares of stock. Prepare the entry for the issuance under the following independent assumptions. (Credit occount tities are automaticolly indented when amount is entered. Do...

Q:

Exercise 13-4 Osage Corporation issued 4,350 shares of stock Prepare the entry for the issuance under the following assumptions. (Credit account titles are automatically indented an (a) The stock had...

Q:

The following account balances relate to the stockholders equity accounts of Sheridan Corp. at year-end. 2022 2021 Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for...

Q:

Osage Corporation issued 2,000 shares of stock. Prepare the entry for the issuance under the following assumptions, (List all debit entries before credit entries. Credit account titles are...

Q:

The following account balances relate to the stockholders' equity accounts of Bonita Corp.at year-end 2022 2021 Common stock, 10.500 and 10,000 shares, issued and $161.800 $132.900 outstanding,...

Q:

The two basic sources of stockholders' equity are _____ a. common stock and bonds b. common stock and preferred stock c. paid-in capital and retained earnings d. no par and stated value stock The...

Q:

Knighthood Inc. issued 8 , 0 0 0 shares of common stock. Prepare entries to record each of the following independent situations related to this issue of stock ( Hint: use the Account List - click to...

Q:

2 Paid-in capital in access of par value is recorded when: O a. Shares issued for more than par (or stated) value. Ob, Shares issued at par (or stated) value. Oc. Shares are purchased from the open...

Q:

Cheyenne Corp bsued 2,850 shares of stock. Prepare the entry for the issuance under the following independent assumptions. (Credit occount titles are automoticolly indented when amount is entered. Do...

Q:

River Walk County voted to establish an internal service fund to account for printing and copying for all its departments and agencies. The County engaged in the following activities related to the...

Q:

You summarize and reflect on this very important article that was one of the first to point out the magnitude of nutrients stored in microorganisms?

Q:

pls, hpl me to explain to slv it.. so that i can understand it better, thank in advanced The simply supported steel shaft is subjected to a force of 10 KN at its center. Determine its maximum...

Q:

Describe how total variable costs and unit variable costs behave with changes in the level of activity. If fixed costs increase, what would be the impact on the contribution margin and income from...