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Ogilvie Corp. issued 26,000 shares of no-par stock for $50 per share. Ogilvie was authorized to issue 49,000 shares. What effect will this event have
Ogilvie Corp. issued 26,000 shares of no-par stock for $50 per share. Ogilvie was authorized to issue 49,000 shares. What effect will this event have on the company's financial statements?
Multiple Choice
Increase assets by $2,450,000, increase equity by $2,450,000.
Increase cash flow from investing activities by $1,300,000.
Increase assets by $1,300,000, increase equity by $1,300,000.
None of these answer choices are correct.
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