Fixit Corporation issued 36,000 shares of $10 par value common stock at its current market price of $31. How does this event affect total stockholders' equity? Multiple Choice It increases by $756,000. It is unaffected. It increases by $116,000.

Fixit Corporation issued 36,000 shares of $10 par value common stock at its current market price of $31. How does this event affect total stockholders' equity? Multiple Choice It increases by $756,000. It is unaffected. It increases by $116,000.

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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Fixit Corporation issued 36,000 shares of $10 par value common stock at its current market price of $31. How does this event affect total stockholders'
equity?
Multiple Choice
It increases by $756,000.
It is unaffected.
It increases by $1,116,000.
It increases by $360,000.
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