A B C D E G H K L M IN O P 1 5.4 Accounting Equation & Stock Issue Points: 4 items @ 3 points = 12 points 2 3 4 Directions: Complete the accounting equation based on the information below. 5 6 Stock Issue Activity 7 a)Goofy Company issued 1,000 shares of $10 par common stock for $20,000. 8 b) Goofy Company issued an additional 2,000 shares for $25 a share 9 10 11 Goofy Company 12 Accounting Equation 13 Balance Sheet Income Statement 14 Event Assets Stockholders Equity 15 Cash + Land Common Sto + PIC in Excess Revenue Expense = Net Income 16 a) + $10,000 + 17 b) $20,000 + 18 19 20 Helpful Resources