2 11.11 points Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has a $1 per share stated value. 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $100 par value preferred stock for $216,000 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. Cash NNN 3. Assets Liabilities Common Stock, $20 Par Value Equity
2 11.11 points Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has a $1 per share stated value. 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $100 par value preferred stock for $216,000 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. 1. Cash NNN 3. Assets Liabilities Common Stock, $20 Par Value Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly
![2
11.11
points
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash.
2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their
efforts, estimated to be worth $41,000. The stock has a $1 per share stated value.
3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their
efforts, estimated to be worth $41,000. The stock has no stated value.
4. A corporation issued 1,750 shares of $100 par value preferred stock for $216,000 cash.
Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically,
identify the accounts and amounts (including + or -) for each transaction.
1. Cash
NNN
3.
Assets
Liabilities
Common Stock, $20 Par
Value
Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11e151db-227c-4ce9-8490-d3ac6f588453%2F4c1e046a-337c-44bd-b571-b2cb3e2208eb%2F0djg0fb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2
11.11
points
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash.
2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their
efforts, estimated to be worth $41,000. The stock has a $1 per share stated value.
3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their
efforts, estimated to be worth $41,000. The stock has no stated value.
4. A corporation issued 1,750 shares of $100 par value preferred stock for $216,000 cash.
Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically,
identify the accounts and amounts (including + or -) for each transaction.
1. Cash
NNN
3.
Assets
Liabilities
Common Stock, $20 Par
Value
Equity
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