Wild Bill Company recently issued 10,000 shares of $1 per value common stock for $35,500. This transaction will affect Wild Bill Company by:
A) increasing the Retained Earnings account by $25,500
B) increasing the Common Stock account by $35,500
C) increasing the Common Stock account by $10,000
D) increasing the Capital in Excess of Par account by $35,500

Question

Quizplus · Accepted Answer

The Common Stock account is increased by the par value of the shares issued, which is $1 per share for 10,000 shares, totaling $10,000.

Wild Bill Company Recently Issued 10,000 Shares of $1 Per