Which of the following is correct for smith company when smith issues 10,000 shares of $10 PAR value common stock and pays $20,000 cash in exchange for a building? The market price of the smith stock on the exchange date was $35 per share. The building's book value on the books of the seller was $200,000.
A. Stockholders equity increases $200,000 B. Stockholders equity increases $330,000 C. Total assets increase $350,000 D. Total assets increase $370,000