Victor Corp. issued 14,000 shares of no-par stock for $210,000. Victor was autho

Question

Victor Corp. issued 14,000 shares of no-par stock for $210,000. Victor was authorized to issue 29,000 shares. What effect will this event have on the company's accounting equation?

Increase assets by $435,000, increase equity by $435,000.

Increase assets by $210,000, increase net income by $210,000.

Increase assets by $210,000, increase equity by $210,000.

Both B and C.

Victor Corp. issued 14,000 shares of no-par stock for $210,000. Victor was authorized to issue 29,000 shares. What effect will this event have on the company's accounting equation?

Explanation / Answer

c) Increase assets by $210,000, increase equity by $210,000

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