When collectibility is reasonably assured, the excess of the subscription price over the stated value of the no par common stock subscribed should be recorded as
A. Additional paid-in capital when the subscription is collected.
B. Part of common stock, no par.
C. Additional paid-in capital when the subscription is received.
D. Additional paid-in capital when the common stock is issued.
Answer:CC is corrent because the excess is recorded as additional paid-in capital when the subscription is received.  Upon receipt of the subscription, the entry is
Subscriptions receivable(subscription price)
 Common stock subscribed
 (stated value)
 Additional paid-in capital
 (excess)

Upon issuance of stock and collection of the receivable, it is

Cash(subscription price)
 Subscriptions receivable
 (subscription price)
Common stock subscribed(stated value)
 Common stock
 (stated value)