During 2010, Estes company entered into the following transactions. 1. Purchased property, plant, and equipment for $286,176

Question:

During 2010, Estes company entered into the following transactions.

1. Purchased property, plant, and equipment for $286,176 cash.

2. Issued common stock to investors for $137,590 cash.

3. Purchased inventory of $77,662 on account.

Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends ifnecessary.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...