Flynn Corp., which is authorized to issue 25,000 shares of no-par common stock, issued 10,000 shares for $150,000. What effect w

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4 years ago

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Flynn Corp., which is authorized to issue 25,000 shares of no-par common stock, issued 10,000 shares for $150,000. What effect w

ill this event have on the accounting equation? Increase assets by $375,000 increase, equity by $375,000. Increase assets by $150,000, increase net income by $150,000. Increase assets by $150,000, increase equity by $150,000. Increase assets by $150,000, increase net income by $150,000 and increase assets by $150,000, increase equity by $150,000.

Business

1 answer:

nika2105 [10] · Answer 1 · 2021-12-20T05:06:33+03:00

Answer:

Increase assets by $150,000, increase equity by $150,000.

The answer and procedures of the exercise are attached in a microsoft excel document.

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

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