Jenkins Realty,Inc.issued 13,000 shares of $1 stated value common stock for $13 per share.The journal entry to record this transaction includes a credit to ________.

Name: Jenkins Realty,Inc.issued 13,000 shares of $1 stated value common stock for $13 per share.The journal entry to record this transaction includes a credit to ________.
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Question

Quizplus · Accepted Answer

The credit to "Paid-In Capital in Excess of Stated - Common" is for the amount received above the stated value, which is ($13 - $1) * 13,000 shares = $156,000.