Question $1$ of $6$

$\frac{-}{4}$

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During its first year of operations, Pharoah Corporation had these transactions pertaining to its common stock.

Jan. $10$ Issued $26,600$ shares for cash at $$6$ per share.

July $1$ Issued $58,000$ shares for cash at $$7$ per share.

$($a$)$

Prepare a tabular summary to record the transactions, assuming that the common stock has a par value of $$6$ per share. Include margin explanations for the changes in revenues and expenses. $($If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign $($or parentheses$)$ in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.$)$