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What effect does transaction have on accounting equation

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Reference no: EM132870508

Question - Suppose a corporation issues 5,000 shares of $1 par common stock for $30 per share. In addition to the increase in cash, what effect does this transaction have on the accounting equation?

a. retained earnings increases $150,000

b. paid-in capital in excess of par increases $145,000

c. common stock increases $150,000

d. gain on stock issuance increases $145,000

Reference no: EM132870508

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