B3. QS 13-15 Financial statement impact of stock issuances and treasury stock P1 P3Total Assets Total Liabilities Total EquityIssued $12,000 of common stock for cashIssued $23,000 of common stock for landPurchased treasury stock for $1,000 cashIssued $5,000 of preferred stock for cashFor each transaction, determine the impact-increase, decrease, or no effect-on total assets, total liabilities, and total equity.

1. Issued $12,000 of common stock for cash Total Assets: Increased by $12,000 Total Liabilities:…

Answered: QS 13-15 Financial statement impact of…

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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