Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the...

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Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the year: a. Received from three investors $54,000 cash and land valued at $29,000; each investor was issued 1,500 shares of common stock with a par value of $0.10 per share. b. Purchased construction equipment for use in the business at a cost of $49,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Lent $5,000 to one of the investors, who signed a note due in six months. d. John Davis purchased a truck for personal use; paid $6,500 down and signed a one-year note for $29,500. e. Paid $19,500 on the note for the construction equipment in (b) (ignore interest). Required: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation: 4. Compute the market value per share of the stock. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Cash Notes Receivable Debit Beginning Balance 0 54,000 5,000 Credit Debit Beginning Balance < Previ 3 of 7 0 Next > Credit Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the year: a. Received from three investors $54,000 cash and land valued at $29,000; each investor was issued 1,500 shares of common stock with a par value of $0.10 per share. b. Purchased construction equipment for use in the business at a cost of $49,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Lent $5,000 to one of the investors, who signed a note due in six months. d. John Davis purchased a truck for personal use; paid $6,500 down and signed a one-year note for $29,500. e. Paid $19,500 on the note for the construction equipment in (b) (ignore interest). Required: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation: 4. Compute the market value per share of the stock. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Cash Notes Receivable Debit Beginning Balance 0 54,000 5,000 Credit Debit Beginning Balance < Previ 3 of 7 0 Next > Credit

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To record the effects of the transactions in the appropriate Taccounts we need to analyze each trans... View the full answer