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The founders of the Phillip Corporation invested $18,000 in the Corporation and received common stock. Determine the effects of the founders' investment in the Corporation.

The founders of the Phillip Corporation invested $18,000 in the Corporation and received common stock.

Determine the effects of the founders' investment in the Corporation.

a.

Assets increased by $18,000 and liabilities increased by $18,000.
b.

Assets increased by $18,000 and stockholders' equity increased by $18,000.
c.

Assets increased by $18,000 and assets decreased by $18,000.
d.

Liabilities decreased by $18,000 and stockholders' equity increased by $18,000.

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