Garrison Company acquired $23,000 by issuing common stock. Write down the table that accurately reflects how this event affects the company's horizontal financial statements model?

The correct answer of the question is Option A because when common stock is issued, it leads to inflow of cash which is a current asset, so assets will get increase by $23,000. At the same time, Stockholders' Equity will increase by $23,000. The Issuance of common stock is a Financing Activity. So, the net effect of the transaction on the income is nil. It will be increase both assets and liabilities by $23,000.

a

b

b

a

c

b

d

d

none of these are correct, as they are all sources of american law

a

answer; ///global;