If Tools Corporation issues 5,000 common shares for $200,000, which account will be credited?
A)Common Shares
B)Retained Earnings
C)Contributed Surplus
D)Cash

Name: If Tools Corporation issues 5,000 common shares for $200,000, which account will be credited? A)Common Shares B)Retained Earnings C)Contributed Surplus D)Cash
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Question

Quizplus · Accepted Answer

When a company issues common shares, the account credited is the Common Shares account, reflecting the equity contribution from shareholders.

If Tools Corporation Issues 5,000 Common Shares for $200,000, Which