Question
Shine invested $6,000 in a business in exchange for common stock. This transaction results in _____ and _____. a.an increase in stockholders' equity on the
Shine invested $6,000 in a business in exchange for common stock. This transaction results in _____ and _____.
a.an increase in stockholders' equity on the balance sheet; an increase in cash flows from financing activities on the statement of cash flows
b.an increase in stockholders' equity on the balance sheet; a decrease in cash on the balance sheet
c.a decrease in stockholders' equity on the balance sheet; no change in assets on the balance sheet
d.no entries on the income statement; a decrease in cash flows from investing activities on the statement of cash flows
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