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QUESTION 52 Indicate the effect of the following event on the compány's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 O Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity QUESTION 53 Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Issued 20,000 common shrs. and decreased the par value to $2.50/shr. As result of a 2 for 1 stock split. O Increased the asset cash $50,000 and the stockholders' equity account common stock $50,000 O Increased the asset cash $50,000 and the stockholders' equity account common stock $100,000 and decreased additional paid in capital-common $50,000. O Has no effect on any of the balance sheet accounts

QUESTION 52 Indicate the effect of the following event on the compány's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 O Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity QUESTION 53 Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Issued 20,000 common shrs. and decreased the par value to $2.50/shr. As result of a 2 for 1 stock split. O Increased the asset cash $50,000 and the stockholders' equity account common stock $50,000 O Increased the asset cash $50,000 and the stockholders' equity account common stock $100,000 and decreased additional paid in capital-common $50,000. O Has no effect on any of the balance sheet accounts

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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QUESTION 52 Indicate the effect of the following event on the compány's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity. O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity QUESTION 53 Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Issued 20,000 common shrs. and decreased the par value to $2.50/shr. As result of a 2 for 1 stock split. Increased the asset cash $50,000 and the stockholders' equity account common stock $50,000 O Increased the asset cash $50,000 and the stockholders' equity account common stock $100,000 and decreased additional paid in capital-common $50,000. O Has no effect on any of the balance sheet accounts O Increased the asset cash $100,000 and the stockholders' equity account common stock $100,000
Transcribed Image Text:QUESTION 52 Indicate the effect of the following event on the compány's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Reissued the 1,000 shrs. acquired in event above, for $40/shr. O Increase the asset cash $40,000 and stockholders' equity àccounts common stock $40,000 Increase the asset cash $40,000, and stockholders' equity account additional paid in capital-treasury stock $10,000, increased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity. O Increase the asset cash $40,000, stockholders' equity accounts common stock $5,000 and additional paid in capital-commom stock $35,000 O Increase the asset cash $40,000, and stockholders' equity actount additional paid in capital-treasury stock $10,000, decreased the stockholders' equity account treasury stock $30,000 thereby increasing stockholders' equity QUESTION 53 Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Issued 20,000 common shrs. and decreased the par value to $2.50/shr. As result of a 2 for 1 stock split. Increased the asset cash $50,000 and the stockholders' equity account common stock $50,000 O Increased the asset cash $50,000 and the stockholders' equity account common stock $100,000 and decreased additional paid in capital-common $50,000. O Has no effect on any of the balance sheet accounts O Increased the asset cash $100,000 and the stockholders' equity account common stock $100,000
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