Question: The Eastern Spruce equity accounts for the last year are as follows: Common stocks, $2 par value....................................? 500 shares outstanding ..................................250,000 Capital surplus ...............................................750,000 Total..........................................................................?

The Eastern Spruce equity accounts for the last year are as follows:

Common stocks, $2 par value....................................?

500 shares outstanding ..................................250,000

Capital surplus ...............................................750,000

Total..........................................................................?

a) What are the common stock and total equity values for the equity accounts?

b) The company has decided to issue 5,000 shares of stock at a price of $30.00 per share. Show the effects of the new issue on the equity accounts.

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