Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock fo

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Following Are The Issuances Of Stock Transactions 1 A Corporation Issued 9 000 Shares Of 10 Par Value Common Stock Fo 1 (155.81 KiB) Viewed 31 times

Following are the issuances of stock transactions. 1. A corporation issued 9,000 shares of $10 par value common stock for $108,000 cash. 2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,000. The stock has a $0 per share stated value. 3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $20,000. The stock has no stated value. 4. A corporation issued 2,250 shares of $25 par value preferred stock for $76,250 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. 1. Cash 1. 2. 2. 2. 3. 3. 4. 4. Assets (+) increase = 108,000 = Liabilities ++++ Equity