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E2-10 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the year: a. Received from three investors $59,000 cash and land valued at $34,000; each investor was issued 1,500 shares of common stock with a par value of $0.10 per share. b. Purchased construction equipment for use in the business at a cost of $54,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). c. Lent $3,500 to one of the investors, who signed a note due in six months. d. John Davis purchased a truck for personal use; paid $7,000 down and signed a one-year note for $32,000. e. Paid $22,000 on the note for the construction equipment in (b) (ignore interest). Required: 1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. 2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation: 4. Compute the market value per share of the stock.
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 4 Compute the market value per share of the stock. (Round your answer to 2 decimal places.) Market value per share per share < Required 2 Required 4 Next > < Prev 2 of 5 www