Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ogilvie corp. issued 12,000 shares of no-par stock

Ogilvie Corp. issued 12,000 shares of no-par stock for $40 per share. Ogilvie was authorized...

90.2K

Verified Solution

Question

Accounting

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?

Multiple Choice

  • None of these answer choices are correct.

  • Increase assets and increase stockholders' equity by $1,400,000.

  • Increase assets and increase stockholders' equity by $480,000.

  • Increase cash inflows from investing activities by $480,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

The mountain wind rattled the window of the small cabin as Drew sifted through the papers...

Medical Sciences
Q

This table is used by Mighty Paws Veterinary Clinic. Inspect this table and answer questions below and...

Programming
Q

Do you think it's reasonable and appropriate for investors to "vote their conscience" on social issues?...

General Management
Q

How does one determine a mark-up on a product or service?

Accounting
Q

or school performance a researcher collected data from 120 students The two way frequency table...

Geometry
Q

c Show that the vector 3 2 41 6 4 31 is in the column...

Basic Math
Q

ality into an equation by adding a slack variable 3 9x 7 2x 1 6x3...

Basic Math
Q

SSF n do of F 2 xj 4zk in the outward S direction normal away...

Calculus
Q

(TCO H) Which of the following should be included as a written representation from management?

Accounting
Q

Discussion Question 2 - Relationship Between Business Ethics and Stock Prices Discuss the relationship that...

Accounting
Q

Mercer Corp. has 10 million shares outstanding and $100 million worth of debt outstanding. Its...

Finance
Q

Burleigh's has a debt-equity ratio of 0.55, a beta of 1.18, a stock price of...

Finance