The Stockholders' Equity accounts of ExxonMobil on December 31, 2022 were as follows:
Preferred Stock (6%, $100 par, cumulative, 800,000 authorized) $960,000
Common Stock ($3 par, 1,500,000 authorized) 1,440,000
APIC-Preferred Stock 144,000
APIC-Common Stock 1,120,000
Retained Earnings 1,248,000
Treasury Stock - Common ($9 cost) 72,000
During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders' equity:
March 21: Issued 32,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $336,000 and the stock was selling for $11 per share.
November 22: Purchased 1,120 shares of Common Stock for the Treasury at a cost of $10,080.
The March 21st entry would include a:
Select one:
Oa. A Debit to Loss for $16,000
Ob. A Credit to Additional Paid in Capital of $256,000
Oc. A Debit to Land for $336,000
Od. A Credit to Common Stock for $336,000
O e. A Credit to Additional Paid in Capital of $240,000
