Delta Corp. issues 4,000 shares of $10 par value common stock at $14 per share.

Question

Delta Corp. issues 4,000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, credits are made to 45 O1) Common Stock $40,000 and Retained Earnings $16,000. 48 2) Common Stock $56,000 ?3) Common Stock $40,000 and Paid-in Capital in Excess of Par $16,000. ?4) Common Stock $40,000 and Paid-in Capital in Excess of Stated Value $16,000. d Response Save Question 8 (2 points) Rogers and Wissinger have partnership capital balances of $576.000 and $432.000, resnectivel·Wissinerneentiatesto sell his nartnershinin terest to Mergenthaler uiz Started F11 912 F6 7 9

Explanation / Answer

Option 3) is correct.

Credit will be recorded for Common stock $ 40000 and Paid-in capital in excess of par $ 16000.

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