Multiple Choice
Maso Company recorded journal entries for the issuance of common stock for $160,000, the payment of $52,000 on accounts payable, and the payment of salaries expense of $84,000. What net effect do these entries have on owners' equity?
A) Increase of $160,000.
B) Increase of $108,000.
C) Increase of $76,000.
D) Increase of $24,000.
Correct Answer:
Verified
Correct Answer:
Verified
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