On January 2, Year 1, Torres Corporation Issued 16,000 Shares

Multiple Choice

On January 2, Year 1, Torres Corporation issued 16,000 shares of $12 par-value common stock for $16 per share. Which of the following statements is true?

A) The common stock account will increase by $256,000.
B) The cash account will increase by $192,000.
C) Total stockholders' equity will increase by $192,000.
D) The paid-in capital in excess of par value account will increase by $64,000.