Alt corp. issues 5,000 shares of $10 par value common stock at $14 per share. when the transaction is recorded, credits are made to: common stock $50,000 and paid-in capital in excess of stated value $20,000. common stock $70,000. common stock $50,000 and paid-in capital in excess of par value $20,000. common stock $50,000 and retained earnings $20,000.

Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.