Question

ABC sells 400 shares of its $23 par common stock for $27. The entry would entail credit(s) to

A. Common Stock for $10,800.
B. Paid-In Capital in Excess of Par-Common for $800 and Common Stock for $10,800.
C. Cash for $9,200.
D. Paid-In Capital in Excess of Par-Common for $1,600 and Common Stock for $9,200.

Answer 1

The correct answer to your question is letter D. Paid in Capital in Excess of Par - Common for $1,600 and Common Stock for $9,200.

Answer 2

The answer is the second one or B