Weller Corporation issued 10,000 shares of no-par common stock for $25 per share. For this transaction, Common Stock should be increased by $250,000.

Question

Quizplus · Accepted Answer

Since 10,000 shares were issued at $25 per share, the total amount received by Weller Corporation is $250,000. Therefore, the Common Stock account should be increased by $250,000 to reflect this transaction.

Weller Corporation Issued 10,000 Shares of No-Par Common Stock for $25