On January 2,2016,Torres Corporation issued 20,000 shares of $10 par-value common stock for $11 per share.Which of the following statements is true?
A) The Common Stock account will increase by $220,000.
B) The Cash account will increase by $200,000.
C) Total equity will increase by $200,000.
D) The Paid-in Capital in Excess of Par Value account will increase by $20,000.
Correct Answer:
Verified
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