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

Quizplus · Accepted Answer

When Tools Corporation issues common shares, the Common Shares account is credited to reflect the increase in equity from the issuance of shares.

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