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On April 1, 10,000 shares of $20 par common stock were issued at $24. Illustrate the effects on the accounts and the financial statements. Balance
On April 1, 10,000 shares of $20 par common stock were issued at $24. Illustrate the effects on the accounts and the financial statements. Balance Sheet Accounts Financial Statement Effect Assets: Cash 240,000 Net increase in assets 240,000 Stockholders' Equity Common Stock 200,000 Paid-in Capital in Excess of Par-Common Stock 40,000 20,000 Net increase in assets Investing activities
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