College Accounting?


The excess of the issuance price over the stated value of a no-par common stock should be credited to the
A Retained Earnings account.
B-Paid-in Capital in Excess of Par Value account.
C- Paid-in Capital in Excess of Stated Value account.
D-Common Stock account.

2.The sale of treasury stock cannot result in
A-the crediting of Paid-in Capital, Treasury Stock.
B-an increase in Retained Earnings.
C-an increase in total stockholders' equity.
D-the debiting of Paid-in Capital, Treasury Stock.

Shares of treasury stock are
A-part of the total outstanding shares but not part of the total issued shares of a corporation.
B-issued shares that have been bought back by the corporation and are being held by the corporation.
C-unissued shares that are held by the treasurer of the corporation.
D-shares held by the U.S. Treasury Department.

Answer:
I'm guessing the answers to all of these things are in your college accounting textbook, Mike.

Doug
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