Question

Show how each of the following transactions affects the accounting equation:
March 1 Issued 75,000 shares of $0.02 par value common stock for cash of $99,750
April 1 Issued 1,000 shares of $95 par value preferred stock for cash at $115 per share
June 30 Purchased 1,000 shares of treasury stock for $3 per share (i.e., the company bought its own common stock in the stock market)



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  • CreatedSeptember 01, 2014
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