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Flynn Company issued 4,000 shares of $10 par value common stock at a market price...

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Question

Accounting

Flynn Company issued 4,000 shares of $10 par value common stock at a market price of $13. As a result of this accounting event, the affect on equity accounts would

increase by $12,000.

increase by $40,000.

increase by $52,000.

be unaffected by the event.

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