Concept: The excess received over the nominal value of a share is recorded separately in the share premium account.Explanation: When shares are issued at a price higher than their nominal value, the amount received is split into two parts.The nominal value is credited to the share capital account.The excess above the nominal value is not profit, so it is not credited to the profit and loss account.This excess is credited to the share premium account as required by accounting rules.Answer: D. credited to share premium account