Homework Answers
Answer
- Correct Answer = Option ‘D’
The accounting equation will change to--
Asset $ 540000 = Liabilities $ 240000 + Equity $ 300,000 - New stock issue will:
--Increase Cash by $ 60000, thereby increasing total assets. [480000 + 60000 = 540000]
--Increase Common Stock by $ 60000, thereby increasing total equity [240000 + 60000 = 300000]
--Liabilities will stay unaffected.
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