Please Solve In 20mins Following are the issuances of stock transactions1. A corporation issued 4,000 shares of $10 par value common stock for $48,000 cash.2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated tobe worth $54,500. The stock has a $3 per share stated value.3. A corporation issued 2,000 shares of no par common stock to its promoters in exchange for their efforts, estimated tobe worth $54,500. The stock has no stated value.4. A corporation issued 1000 shares of $50 par value preferred stock for $104,500 cash.Analyze each transaction from issuances of stock by showing its effect on the accounting equation- specifically, identity the accountsand amounts (including or - for each transaction.Answer is not complete.AssetsLisbities1.Cash48.000OCoevon Soa $to Par Vaue(+) ncrease(40,000Paidin Captin Excess of ParVale Commce ckO nose .000 OOrganzetion ExpensesO-) decrease 54500 O2.Coman Stock, 13 stated vaeO)increane2,000 O2.Paidin Capd in Excess of StatedVale. Common Stock(2Organization EpensesCommon Stodk, No Par VaO decase 4.500OOOcrease13.+)increasePrelemed Stook $50 Par VakuePaid in Capt in Excess of Parwe Prefened Steck4.54.500increese104.500O[4.Cash

Accounting Equation- The accounting equation can be defined as the idea that stipulates that a…

Following are the issuances of stock transactions 1A corporation issued 4,000 shares of $10 par value common stock for $48.000 cash 2A corporation issued 2.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $54,500. The stock has a $3 per share stated value 3. A corporation issued 2000 shares of no par common stock to ts promoters in exchange for their efforts, estimated to be worth $54.500. The stock has no stated value 4. A corporation issued 1000 shares of $50 par value preferred stock for $104,500 cash. Analyze each transaction from isuances of stock by showing its effect on the accounting equation-specifically, idensity the accounts and amounts (including or- for each transaction.

Following are the issuances of stock transactions 1A corporation issued 4,000 shares of $10 par value common stock for $48.000 cash 2A corporation issued 2.000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $54,500. The stock has a $3 per share stated value 3. A corporation issued 2000 shares of no par common stock to ts promoters in exchange for their efforts, estimated to be worth $54.500. The stock has no stated value 4. A corporation issued 1000 shares of $50 par value preferred stock for $104,500 cash. Analyze each transaction from isuances of stock by showing its effect on the accounting equation-specifically, idensity the accounts and amounts (including or- for each transaction.

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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