Dragonstone Corp. issues 8,000 shares of $24 par common stock for $29 per share. The amount credited to paid-in capital in excess of par is:
A) $192,000.
B) $40,000.
C) $8,000.
D) $232,000.
B) $40,000.
Explanation: number of shares × (issue price - par value); 8,000 ($29 - $24) = $40,000
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