Question: 43
(Choose 1 answer)
A corporation issued 100 shares of its $5 par value common stock in payment of a $1,800 charge from its
accountant for assistance in filing its charter with the state. The entry to record this transaction will include:
A. A $1,800 credit to Common Stock.
B. A $300 debit to Organization Expenses.
C. A $1,300 credit to Paid-in Capital in Excess of Par Value, Common Stock.
D. A $1,800 debit to Legal Expenses.
E. A $1,800 credit to Cash.
