Woods,Inc.issued 100 shares of its $5 par value common stock for $15 per share.They will record ________ in the common stock account at par value and ________ as additional paid-in-capital.

Question

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Woods, Inc. issued 100 shares at a par value of $5, so they will record $500 (100 shares x $5) in the common stock account. The additional paid-in-capital is the excess amount received over the par value, which is $1,000 (100 shares x ($15 - $5)).

Woods,IncIssued 100 Shares of Its $5 Par Value Common Stock