Assume Dessert Destination of Montana, Inc., completed the following transactions during 2010, the company€™s 10th year of operations:

Requirement
1. Analyze each transaction in terms of its effect on the accounting equation of Dessert Destination of Montana,Inc.

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Issued 15,000 shares of company stock ($1.00 par) for cash of Feb 3 Mar 19 Apr 24 $435,000. Purchased 2,600 shares of the company's own common stock at $24 per share. Sold 1,300 shares of treasury common stock for $32 per share. Aug 15 Declared a cash dividend on the 18,000 shares of $0.40 no par preferred stock. Sep Paid the cash dividends. Nov 22 Distributed a 8% stock dividend on the 92,000 shares of $1.00 par common stock outstanding. The market value of the common stock was $26 per share.