Identifying and Analyzing Financial Statement Effects of Stock Transactions Melo Company reports the following transactions relating to its stock accounts in the current year. Use the financial statement effects template to indicate the effects from each of these transactions. (a) Mar. 2 Issued 7,000 shares of $1 par value common stock at $30 cash per share. (b) Apr. 14 Issued 10,500 shares of $100 par value, 8% preferred stock at $250 cash per share. (c) June. 30 Purchased 2,100 shares of its own common stock at $22 cash per share. (d) Sep. 25 Sold 1,050 shares of its treasury stock at $26 cash per share. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount.
Identifying and Analyzing Financial Statement Effects of Stock Transactions
Melo Company reports the following transactions relating to its stock accounts in the current year. Use the financial statement effects template to indicate the effects from each of these transactions.
(a) Mar. 2 Issued 7,000 shares of $1 par value common stock at $30 cash per share.
(b) Apr. 14 Issued 10,500 shares of $100 par value, 8%
(c) June. 30 Purchased 2,100 shares of its own common stock at $22 cash per share.
(d) Sep. 25 Sold 1,050 shares of its
Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction.
Note: Indicate a decrease in an account category by including a negative sign with the amount.
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