Quality Corporation Has 500,000 Shares of $1 Par Value Common

Multiple Choice

Quality Corporation has 500,000 shares of $1 par value common stock authorized and 200,000 shares issued and outstanding.Land worth $100,000 received in exchange for 10,000 shares of common stock of the corporation would do all the following except:

A) increase the number of shares of common stock issued and outstanding to 210,000 shares
B) increase the total in the common stock account by $10,000
C) increase paid in capital in excess of par by $90,000
D) increase Retained Earnings by $100,000