Paid-In Capital in Excess of Par is debited if a debit balance exists in the account .
Paid-In Capital in Excess of Par is debited if a credit balance exists in the account .
Paid-In Capital in Excess of Par is credited . Retained Earnings is credited . 14- Multiple Choice Question 83
When stock is issued for legal services , the transaction is recorded by debiting Organization Expense for the
par value of the stock . market value of the stock . book value of the stock . stated value of the stock . 15- Multiple Choice Question 160
Win , Inc . has 10,000 shares of 7 %, $ 100 par value , cumulative preferred stock and 100,000 shares of $ 1 par value common stock outstanding at December 31 , 2013 . If the board of directors declares a $ 60,000 dividend , the
$ 60,000 will be held as restricted retained earnings and paid out at some future date .