Ix Company issued 32,000 shares of $10 par value common stock at a market price of $29. As a result of this accounting event, the amount of stockholders' equity would:

Question

Quizplus · Accepted Answer

The amount of stockholders' equity increases by $928,000 because 32,000 shares at a market price of $29 each results in total proceeds of $928,000 (32,000 shares * $29 per share).

Ix Company Issued 32,000 Shares of $10 Par Value Common