Nexis Corp. issues 1,180 shares of $9 par value common stock at $17 per share. When the transaction is recorded, credits are made to Oa. Common Stock, $9,440 and Paid-In Capital in Excess of Stated Value, $10,620. Ob. Common Stock, $20,060. Oc. Common Stock, $9,440 and Retained Earnings, $10,620. Od. Common Stock, $10,620, and Paid-In Capital in Excess of Par-Common Stock, $9,440.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Nexis Corp. issues 1,180 shares of $9 par value common stock at $17 per share. When the transaction is recorded, credits are made to
a. Common Stock, $9,440 and Paid-In Capital in Excess of Stated Value, $10,620.
Ob. Common Stock, $20,060.
Oc. Common Stock, $9,440 and Retained Earnings, $10,620.
Od. Common Stock, $10,620, and Paid-In Capital in Excess of Par-Common Stock, $9,440.
Transcribed Image Text:Nexis Corp. issues 1,180 shares of $9 par value common stock at $17 per share. When the transaction is recorded, credits are made to a. Common Stock, $9,440 and Paid-In Capital in Excess of Stated Value, $10,620. Ob. Common Stock, $20,060. Oc. Common Stock, $9,440 and Retained Earnings, $10,620. Od. Common Stock, $10,620, and Paid-In Capital in Excess of Par-Common Stock, $9,440.
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