Required information [The following information applies to the questions displayed below.] Following are the issuances of...
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Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash. 2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has a $1 per share stated value. 3. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has no stated value. 4. A corporation issued 1,250 shares of $100 par value preferred stock for $147,000 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. Assets 1. Common Stock, $20 Par Value (+) increase 1. 2. 2. 2. 3. 3. 4. < Prev = = = == Liabilities S of 9 Next > MacBook Air s + + + + + + + + + Help Save & Exit S Check my ww Equity Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash. 2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has a $1 per share stated value. 3. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has no stated value. 4. A corporation issued 1,250 shares of $100 par value preferred stock for $147,000 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. Assets 1. Common Stock, $20 Par Value (+) increase 1. 2. 2. 2. 3. 3. 4. < Prev = = = == Liabilities S of 9 Next > MacBook Air s + + + + + + + + + Help Save & Exit S Check my ww Equity
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