ACE corporation sold 10,000 shares of its $10 par value common stock at a cash...
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Accounting
ACE corporation sold 10,000 shares of its $10 par value common stock at a cash price of $12 per share. How does the transaction affect the companys balance sheet?
A. Decrease Cash for 100,000
B. Decrease paid in capital in excess of par value and common stock for $120,000
C. Increase Common stock for $120,000
D. Increase cash for $120,000, increase Common Stock for $100,000 and increase in paid in capital in Excess of Par Value, Common stock for $20,000
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