Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has a $1 per share stated value 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $50 par value preferred stock for $104,500 cash. 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. 2 2 Accounts payable س له ده Assets = = = Liabilities + + + + + + + + + Equity
Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has a $1 per share stated value 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $50 par value preferred stock for $104,500 cash. 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. 2 2 Accounts payable س له ده Assets = = = Liabilities + + + + + + + + + Equity
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 5MCQ
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![Following are the issuances of stock transactions.
1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash.
2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $29,500. 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.
2
2
3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $29,500. The stock has no stated value.
4. A corporation issued 1,500 shares of $50 par value preferred stock for $104,500 cash.
2
3
Accounts payable
3.
4
4
Assets
Liabilities
+
+
+
+
+
+
+
+
Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc407348e-74f9-451b-8a05-2e09042d8432%2F0c504ec1-e0fe-415a-9a35-cabd3d8b6ba7%2Fmfyljln_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Following are the issuances of stock transactions.
1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash.
2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $29,500. 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.
2
2
3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated
to be worth $29,500. The stock has no stated value.
4. A corporation issued 1,500 shares of $50 par value preferred stock for $104,500 cash.
2
3
Accounts payable
3.
4
4
Assets
Liabilities
+
+
+
+
+
+
+
+
Equity
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