Question 6 Partially correct Mark 1.91 out of 2.00 Identifying and Analyzing Financial Statement Effects of Stock Transa

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Question 6 Partially Correct Mark 1 91 Out Of 2 00 Identifying And Analyzing Financial Statement Effects Of Stock Transa 1 (549.01 KiB) Viewed 15 times

Question 6 Partially correct Mark 1.91 out of 2.00 Identifying and Analyzing Financial Statement Effects of Stock Transactions Lipe Company reports the following transactions relating to its stock accounts. Flag question Feb. 20 Issued 10,000 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 15,000 shares of $100 par value, 8% preferred stock at $275 cash per share. Purchased 2,000 shares of its own common stock at $15 cash per share. Jun. 30 Sep. 25 Sold 1,000 shares of the treasury stock at $21 cash per share. Transaction 2/20: Issued common stock shares 2/21: Issued preferred stock shares. 6/30: Purchased own shares. 9/25. Sold treasury stock charos a. Using the financial statement effects template, illustrate the effects of these transactions. Use negative signs with answers when appropriate. When applicable, enter total amount for contributed capital. Balance Sheet Cash Asset + 250,000 + 4,125,000 (30,000) 21.000 + Noncash Asset = 0 = 0 0 n Edit question = II Liabilities 0 0 0 + + Contrib. Capital 250,000 4,125,000 0 6.000 + + + Earned Capital 0 0 30,000 * (15.000) Contra Equity 0 0✔ 0 x n Revenues 0 0✔ 0✔ n Income Statement Expenses 0 0✔ = O = C || II II