Garrison Company acquired $23,000 by issuing common stock. Which of the following choices accurately reflects how this event affects the company's financial statements?
Assets = Liab. + Equity Rev. β Exp. = Net Inc. Cash Flow
A. 23,000 = NA + 23,000 NA β NA = NA 23,000 FA
B. 23,000 = NA + 23,000 23,000 β NA = 23,000 23,000 FA
C. 23,000 = 23,000 + NA 23,000 β NA = NA 23,000 FA
D. 23,000 = 23,000 + NA 23,000 β NA = 23,000 23,000 OA
a. Option A
b. Option B
c. Option C
d. Option D
Answers: 2
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