A company received $50,000 cash and issued common stock in exchange. How does this transaction affect the accounting equation? Add $50,000 to Cash and add $50,000 to Retained Earnings. Add $50,000 to Cash and add $50,000 to Revenue. Add $50,000 to Dividends and subtract $50,000 from Retained Earnings. Add $50,000 to Cash and add $50,000 to Common Stock.HELP ME PLEASE

Name: A company received $50,000 cash and issued common stock in exchange. H
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Description: A company received $50,000 cash and issued common stock in exchange. How does this transaction affect the accounting equation? Add $50,000 to Cash and add $50,000 to Retained Earnings. Add $50,000 to Cash and add $50,000 to Revenue. Add $50,000 to

Accounting equation is one of fundamental concept being used in accounting. This says that total…

Answered: A company received $50,000 cash and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company received $50,000 cash and issued common stock in exchange. How does this transaction affect the accounting equation?

		Add $50,000 to Cash and add $50,000 to Retained Earnings.
		Add $50,000 to Cash and add $50,000 to Revenue.
		Add $50,000 to Dividends and subtract $50,000 from Retained Earnings.
		Add $50,000 to Cash and add $50,000 to Common Stock.

HELP ME PLEASE

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