Lodge Outfitters issues 1,200 shares of its $0.01 par value common stock to provide funds for...
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Lodge Outfitters issues 1,200 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $12 per share, determine the financial statement effects of the issuance of common stock. Note: Amounts to be deducted should be indicated with a minus sign. If there are no effects for a particular transaction/event, select "There are no financial statement effects" in the first account field. Cash Assets Revenues There are no financial statement effects X 14,400 Liabilities There are no financial statement effects Income Statement Expenses There are no financial statement effects X Answer is not complete. Balance Sheet Contributed Capital Common Stock Net Income Stockholders' Equity 14,388 Retained Earnings There are no financial statement x effects Trea St Lodge Outfitters issues 1,200 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming the issue price is $12 per share, determine the financial statement effects of the issuance of common stock. Note: Amounts to be deducted should be indicated with a minus sign. If there are no effects for a particular transaction/event, select "There are no financial statement effects" in the first account field. Cash Assets Revenues There are no financial statement effects X 14,400 Liabilities There are no financial statement effects Income Statement Expenses There are no financial statement effects X Answer is not complete. Balance Sheet Contributed Capital Common Stock Net Income Stockholders' Equity 14,388 Retained Earnings There are no financial statement x effects Trea St
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