Question: 1 0 of 2 3 Concepts completed Multiple Choice Question Daffy Duct, Inc. issued 1 0 , 0 0 0 shares of no - par

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Multiple Choice Question
Daffy Duct, Inc. issued 10,000 shares of no-par value common stock at $10 per share. Miss Hap, the bookkeeper, recorded the transaction with a $100,000 debt Cash and $100,000 credit to Common stock. Which of the following is true?
This entry is correct.
Total assets will be overstated.
Total stockholders' equily will be overstated.
Jotal liabilities will be understated.
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1 0 of 2 3 Concepts completed Multiple Choice

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