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abe HW7 (Module 7 & 8) X + X C A mybusinesscourse.com/platform/mod/quiz/review.php?attempt=4171706&cmid=241395 G a . .. Identifying and Analyzing Financial Statement Effects of Stock Transactions BusinessCo The stockholders' equity of Gaulin Company at the start of the current year follows: Common stock, $ 5 par value, 350,000 shares authorized; 180,000 shares issued and outstanding |$ 900,000 Print 600,000 1 sheet of paper abdul Saqib Paid-in capital in excess of par value Lender Issuan Retained earnings 346,000 Nissim During the current year the following transactions occurred: Jan. 5 Issued 10,000 shares of common stock for $11 cash per share. Destination Microsoft Print to PDF Klein Jan. 18 Purchased 4,000 shares of common stock for the treasury at $15 cash per share. Bildersee Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $17 cash per share. July 17 Sold 500 shares of the remaining treasury stock for $14 cash per share. Oct. 1 Issued 5,000 shares of 8%, $21 par value preferred stock for $38 cash per share. This is the first issuance of preferred shares from the 50,000 Pages All authorized shares. (a) Use the financial statement effects template to indicate the effects of each transaction. Use negative signs with answers, when appropriate. Income Statement Color Color Balance Sheet Correct Noncash Contributed Earned Net Transaction Cash Asset Assets Liabilities Capital Capital Revenue Expenses Income Marks for this sul Jan. 5 110,000 o 110,000 Jan. 18 (60,000) OV (60,000) OV Mar. 12 17,000 OV O V 17,000 O V More settings July. 17 7,000 OV 7,000 OV Oct. 1 190,000 Ov 190,000 OV (b) Prepare the current year stockholders' equity section of the balance sheet assuming that the company reports net income of $72,500 for the year. & Print Use a negative sign with your answer for treasury stock Support Question 2 Corre Paid-in capital 8% Preferred stock, $21 par value, 50,000 shares authorized, 5,000 shares issued and outstanding $ 105,000 Common stock, $5 par value, 350,000 shares authorized; 190,000 shares issued 950,000 v $ 1,055,000 Analyzing and R Additional paid-in capital Paid-in capital in excess of par value-preferred stock 85,000 Lundholm, Inc., Paid-in capital in excess of par value-common stock 660,000 Paid-in capital from treasury stock 1,500 746,500 d April 30. Assuming th Total paid-in capital 1,801,500 Retained earnings 418,500 st semiannual inte ,220,000 Less: Treasury stock (2,500 shares) at cost (use a negative sign with your answer) (37,500) Total Stockholders' Equity 2,182,500 Use negative sig Correct Marks for this submission: 12.00/12.00. Print Cancel Transaction C (a) Anon'nnc A non'nnc 1275001 27500 075001 Type here to search O O 7:47 PM 10/22/2020