Which of the following entities would have the "Paid-in Capital in Excess" account in the equity section of the balance sheet?

Question

Quizplus · Accepted Answer

Paid-in Capital in Excess is a term used for the additional amount received by a corporation from the sale of its stock over and above the par value of the stock. Hence, only a corporation would have a Paid-in Capital in Excess account in its equity section of the balance sheet. Municipalities, sole proprietorships, and partnerships do not issue stock, and therefore, they do not have a Paid-in Capital in Excess account.

Which of the Following Entities Would Have the "Paid-In Capital