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Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $52,000 for 1,300 shares of $10 par common stock issued to him by Leuig Corp A month later, Leuig Corp, issued an additional 2,600 shares of stock to Yuppy for $40 per share Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (A), or financing activity (FA). If an element was not affected by the event, leave the cell blank

Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $52,000 for 1,300 shares of $10 par common stock issued to him by Leuig Corp A month later, Leuig Corp, issued an additional 2,600 shares of stock to Yuppy for $40 per share Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (A), or financing activity (FA). If an element was not affected by the event, leave the cell blank

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $52,000 for 1,300 shares of $10 par common stock issued to him by Leuig Corp A month later, Leuig Corp, issued an additional 2,600 shares of stock to Yuppy for $40 per share Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank.
Transcribed Image Text:Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $52,000 for 1,300 shares of $10 par common stock issued to him by Leuig Corp A month later, Leuig Corp, issued an additional 2,600 shares of stock to Yuppy for $40 per share Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank.
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