Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $46,000. The stock has a $3 per share stated value. 3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $46,000. The stock has no stated value. 4. A corporation issued 750 shares of $75 par value preferred stock for $102,250 cash.
Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. 2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $46,000. The stock has a $3 per share stated value. 3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $46,000. The stock has no stated value. 4. A corporation issued 750 shares of $75 par value preferred stock for $102,250 cash.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Oo.135.
Subject :- Account
![1.
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.
2
2
2
3.
3.
4
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions..
1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash.
2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $46,000. The stock has a $3 per share stated value.
4.
3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $46,000. The stock has no stated value.
4. A corporation issued 750 shares of $75 par value preferred stock for $102,250 cash.
Assets
M
#
M
=
M
Liabilities
Accounts payable
Accounts receivable
Accumulated depreciation-Building
Accumulated depreciation-Equipment
+](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a79f5fd-2bdd-484b-9c0d-a83d48b55247%2Fd6fe7059-52ef-4a1c-a7ee-579a33901370%2Ft9ot1n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1.
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.
2
2
2
3.
3.
4
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions..
1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash.
2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $46,000. The stock has a $3 per share stated value.
4.
3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $46,000. The stock has no stated value.
4. A corporation issued 750 shares of $75 par value preferred stock for $102,250 cash.
Assets
M
#
M
=
M
Liabilities
Accounts payable
Accounts receivable
Accumulated depreciation-Building
Accumulated depreciation-Equipment
+
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