Multiple Choice
Ogilvie Corp.issued 12,000 shares of no-par stock for $40 per share.Ogilvie was authorized to issue 35,000 shares.What effect will this event have on the elements of the company's financial statements?
A) Increase assets and increase stockholders' equity by $1,400,000.
B) Increase assets and increase stockholders' equity by $480,000.
C) Increase cash inflows from investing activities by $480,000.
D) None of these answer choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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