Woods, Inc. issued 150 shares of its $8 par value common stock for $19 per share. They will record ________ in the common stock account at par value and ________ as additional paid-in capital in excess of par-common.

Question

Quizplus · Accepted Answer

The correct answer is A because the common stock account is recorded at par value, which is $8 per share, and the additional paid-in capital in excess of par-common is recorded at the difference between the issue price and the par value, which is $11 per share.