Refer to the following transactions. a. Issued 400 shares of $100 par value preferred stock at...

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Refer to the following transactions. a. Issued 400 shares of $100 par value preferred stock at par. b. Issued 800 shares of $100 par value preferred stock in exchange for land that had an appraised value of $102,00o. c. Issued 20,000 shares of $5 par value common stock for $12 per share. d. Purchased 3,710 shares of common stock for the treasury at $13 per share. e. Sold 2,300 shares of the treasury stock purchased in transactiond for $15 per share. f. Declared a cash dividend of $1.85 per share on the preferred stock outstanding, to be paid early next year. g. Deciared and issued an 5% stock dividend on the common stock when the market price per share of common stock was $16. Problem 8-30 (Algo) Part 1 Required: Show the effect (if any) of each of the above transactions on each financial statement category by selecting a plus (+) or minus (-) and the amount in the appropriate column. Do nat show items that affect net income in the retained eamings column. You should assume that the transactions occurred in the listed chronological sequence and that no stock had been previously issued. (Hint Remember to consider appropriate effects of previous transactions) Transaction Cash Other Assets Liabilities Paid-in Capital Retained Earnings Treasury Stock Net Income Preu Refer to the following transactions. a. Issued 400 shares of $100 par value preferred stock at par. b. Issued 800 shares of $100 par value preferred stock in exchange for land that had an appraised value of $102,00o. c. Issued 20,000 shares of $5 par value common stock for $12 per share. d. Purchased 3,710 shares of common stock for the treasury at $13 per share. e. Sold 2,300 shares of the treasury stock purchased in transactiond for $15 per share. f. Declared a cash dividend of $1.85 per share on the preferred stock outstanding, to be paid early next year. g. Deciared and issued an 5% stock dividend on the common stock when the market price per share of common stock was $16. Problem 8-30 (Algo) Part 1 Required: Show the effect (if any) of each of the above transactions on each financial statement category by selecting a plus (+) or minus (-) and the amount in the appropriate column. Do nat show items that affect net income in the retained eamings column. You should assume that the transactions occurred in the listed chronological sequence and that no stock had been previously issued. (Hint Remember to consider appropriate effects of previous transactions) Transaction Cash Other Assets Liabilities Paid-in Capital Retained Earnings Treasury Stock Net Income Preu

Answer rating: 100% (QA)

Explanation Common stock Stock dividend200005 100055000 Solution Other Retained earni Ass Liabilitie... View the full answer