4 nalyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts nd amounts (including + or -) for each transaction. 1. Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has a $1 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $25 par value preferred stock for $87,750 cash. 1. 2. 2. 2. 3. 3. 4. 4 Assets = = = = = = = Liabilities + + + + + + + + + Equity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1.
A
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.
2.
2.
Following are the issuances of stock transactions.
1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash.
2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to
be worth $31,500. The stock has a $1 per share stated value.
2.
3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to
be worth $31,500. The stock has no stated value.
4. A corporation issued 2,250 shares of $25 par value preferred stock for $87,750 cash.
3.
3.
4.
4.
Assets
=
=
=
=
=
=
Liabilities
+
+++++++
Equity
Transcribed Image Text:1. A 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. 2. 2. Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has a $1 per share stated value. 2. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $31,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $25 par value preferred stock for $87,750 cash. 3. 3. 4. 4. Assets = = = = = = Liabilities + +++++++ Equity
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