[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

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 20BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...

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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. [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 7,000 shares of $10 par value common stock for $84,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,000. The stock has a $1 per share stated value. 4 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $51,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $50 par value preferred stock for $138,500 cash. Assets = = Liabilities + + Equity
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