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This company reported the following information on its recent balance sheet: Common stock, $10 par, 100,000 shares authorized, 75,000 shares issued and outstanding Refer to
This company reported the following information on its recent balance sheet: Common stock, $10 par, 100,000 shares authorized, 75,000 shares issued and outstanding Refer to Lakeshore Industries. What is the effect on the companys accounting equation of issuing 1,000 additional shares of common stock at $15 per share? a. Assets decrease $15,000. b. Stockholders' equity increases $10,000. c. Assets increase $10,000. d. Stockholders' equity increases $15,000.
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