Using the following categories, indicate the effects of the following transactions. Use + for increase and

Question:

Using the following categories, indicate the effects of the following transactions. Use + for increase and – for decrease and indicate the accounts affected and the amounts.

a. Sales on account were $500 and related cost of goods sold was $200.

b. Issued 5,000 shares of $1 par value stock for $80,000 cash.

Event Assets = Liabilities + Stockholders’ Equity

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...