Question
On August 1, Kruger Industrial Inc. issues 200 shares of $5 par value common stock for cash at $14 per share. When Kruger Industrial Inc.
On August 1, Kruger Industrial Inc. issues 200 shares of $5 par value common stock for cash at $14 per share. When Kruger Industrial Inc. records the transaction on August 1, it will:
Group of answer choices
a. increase Cash $2,800 and increase Retained Earnings $2,800.
b. increase Cash $2,800 and increase Common Stock $2,800.
c. increase Cash $2,800, increase Common Stock $1,800 and increase Additional Paid-in Capital in Excess of Par $1,000.
d. increase Cash $2,800, increase Common Stock $1,000 and increase Additional Paid-in Capital in Excess of Par $1,800.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started