Lakeshore Industries This company reported the following information on its recent balance sheet:
Common stock,$10 par,100,000 shares authorized,75,000 shares issued and outstanding
-Refer to Lakeshore Industries.What is the effect on the company's accounting equation of issuing 1,000 additional shares of common stock at $15 per share?
A) Assets increase $10,000.
B) Stockholders' equity increases $15,000.
C) Stockholders' equity increases $10,000.
D) Assets decrease $15,000.
Correct Answer:
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