[The following information applies to the questions displayed below] Following are the issuances of stock transactions 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. 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. Organization Expenses 2 2 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $154,000 cash. 2 3 3 Assets + = = Liabilities + + + + + + Equity
[The following information applies to the questions displayed below] Following are the issuances of stock transactions 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. 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. Organization Expenses 2 2 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has no stated value. 4. A corporation issued 2,250 shares of $50 par value preferred stock for $154,000 cash. 2 3 3 Assets + = = Liabilities + + + + + + Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash.
2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $41,500. The stock has a $1 per share stated value.
1. Organization Expenses
2
2
3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $41,500. The stock has no stated value.
4. A corporation issued 2,250 shares of $50 par value preferred stock for $154,000 cash.
2
3.
3.
4
4.
Assets
(1
11
111111
Liabilities
+
+
+
+
+
+
+
4
Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a30a535-522f-4ec3-b9d8-e0a4f3683682%2F5545b5c2-223e-4b52-b293-48a86b22ddc0%2Fvv70bra_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash.
2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $41,500. The stock has a $1 per share stated value.
1. Organization Expenses
2
2
3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $41,500. The stock has no stated value.
4. A corporation issued 2,250 shares of $50 par value preferred stock for $154,000 cash.
2
3.
3.
4
4.
Assets
(1
11
111111
Liabilities
+
+
+
+
+
+
+
4
Equity
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