Identifying and Analyzing Financial Statement Effects of Stock Transactions (FSET) Lipe Company reports the following transactions...

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Identifying and Analyzing Financial Statement Effects of Stock Transactions (FSET) Lipe Company reports the following transactions relating to its stock accounts. Feb. 20 Issued 16,800 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 25,200 shares of $100 par value, 8% preferred stock at $250 cash per share. Jun. 30 Purchased 3,360 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,680 shares of the treasury stock at $21 cash per share. Using the financial statement effects template, illustrate the effects of these transactions. NOTE: Use negative signs with your answers, when appropriate. NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected. Transaction Issuance of common stock. Cash Cash Asset 420,000 N/A Noncash Assets Balance Sheet Liabilities Contributed Capital 16,800 Income Statement Earned Capital Contra Equity Revenue - Expenses 0 Common stock N/A Issuance of preferred stock. 6,300,000 Cash N/A 403,200 Additional paid-in capital 25,200,000 x 0 Preferred stock N/A 6,274,800 x Additional paid-in capital Purchase of treasury stock. (50,400) 0 0 Cash N/A = N/A Sale of treasury stock. 35,280 0 Cash N/A N/A Additional paid-in capital 50,400 Treasury stock 35,280 35,280 x Treasury stock Check Net = Income Identifying and Analyzing Financial Statement Effects of Stock Transactions (FSET) Lipe Company reports the following transactions relating to its stock accounts. Feb. 20 Issued 16,800 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 25,200 shares of $100 par value, 8% preferred stock at $250 cash per share. Jun. 30 Purchased 3,360 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,680 shares of the treasury stock at $21 cash per share. Using the financial statement effects template, illustrate the effects of these transactions. NOTE: Use negative signs with your answers, when appropriate. NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected. Transaction Issuance of common stock. Cash Cash Asset 420,000 N/A Noncash Assets Balance Sheet Liabilities Contributed Capital 16,800 Income Statement Earned Capital Contra Equity Revenue - Expenses 0 Common stock N/A Issuance of preferred stock. 6,300,000 Cash N/A 403,200 Additional paid-in capital 25,200,000 x 0 Preferred stock N/A 6,274,800 x Additional paid-in capital Purchase of treasury stock. (50,400) 0 0 Cash N/A = N/A Sale of treasury stock. 35,280 0 Cash N/A N/A Additional paid-in capital 50,400 Treasury stock 35,280 35,280 x Treasury stock Check Net = Income