Ifa company issues common stock for $41100 and uses $29300 of the cash to purchase a truck, O assets will be increased by $41100. O equity will be reduced by $41100. O assets will be unchanged. O assets will be increased by $1189.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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If a company issues common stock for $41100 and uses $29300 of the cash to purchase a truck,
O assets will be increased by $41100.
O equity will be reduced by $41100.
O assets will be unchanged.
O assets will be increased by $1180.
Transcribed Image Text:If a company issues common stock for $41100 and uses $29300 of the cash to purchase a truck, O assets will be increased by $41100. O equity will be reduced by $41100. O assets will be unchanged. O assets will be increased by $1180.
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