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On January 1, 2016, Morgan Company issued 60,000 shares of its total 200,000 authorized shares of $4 par value common stock for $4 per
On January 1, 2016, Morgan Company issued 60,000 shares of its total 200,000 authorized shares of $4 par value common stock for $4 per share. On December 31, 2016, Morgan Company's common stock is trading at $8 per share. If Morgan Company does not issue any more common stock in 2016, how does the increase in value of its outstanding stock affect Morgan?
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Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
