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Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has a $1 per share stated value 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. 4. A corporation issued 1,500 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, identify the accounts and amounts (including + or -) for each transaction. 1. 1. 2 2 Accounts payable س له ده Assets = = = Liabilities + + + + + + + + + Equity

Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has a $1 per share stated value 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. 4. A corporation issued 1,500 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, identify the accounts and amounts (including + or -) for each transaction. 1. 1. 2 2 Accounts payable س له ده Assets = = = Liabilities + + + + + + + + + Equity

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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Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has a $1 per share stated value 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. 1. 2 2 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $50 par value preferred stock for $104,500 cash. 2 3 Accounts payable 3. 4 4 Assets Liabilities + + + + + + + + Equity
Transcribed Image Text:Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has a $1 per share stated value 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. 1. 2 2 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $50 par value preferred stock for $104,500 cash. 2 3 Accounts payable 3. 4 4 Assets Liabilities + + + + + + + + Equity
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